Conference call Q4 and FY 2013 Revenue

Transcription

1 Conference call Q4 and FY 2013 Revenue January 16,

2 FY 2013 Key takeaways Gross revenue up 2.8% as reported in 2013 Negative Forex effects in 2013 Solid increase in L/L revenue across most key markets +2.7% L/L revenue increase at Group level in 2013 Strong increase in fee revenue, up 14.7% L/L in 2013 Expansion: 22,637 rooms added over the year 85% under Management and Franchise, 59% in emerging markets 2

3 FY 2013 Revenue: 5,536m, up 2,7% L/L +2.7% +2.3% -4.6% Like-for-Like 153m Expansion 130m Disposals (258)m Like-for-like growth > Hotels: +2.7% Owned & leased: +1.5% Fees: +14.7%* Impact of expansion > Openings: 22,637 new rooms (170 hotels) in 2013, of which 7,706 rooms in Franchise (34% of openings) 11,651 rooms in Management (51% of openings) Impact of disposals > Asset management: (221)m > Other disposals: (37)m -2.4% -2.0% Currency (138)m Reported (113)m Currency effect > AUD: -0.8%, (47)m > BRL: -0.8%, (43)m > GBP: -0.4%, (20)m * Restated from fees related to the Posadas and Mirvac acquisitions 3

4 Expansion in 2013: 22,637 rooms (170 hotels) opened Room openings 2013 by region Latin America 13% Europe 41% 9% Africa Middle East Asia Pacific 37% Room openings 2013 by operating mode 85% asset-light Franchise 34% Owned 3% Leased 12% Management 51% 461,719 rooms at year-end, of which 59% under management and franchise 4

5 Q Revenue: 1,402m, up 3.4% L/L +3.4% +0.6% -3.7% Like-for-Like 50m Expansion 8m Disposals (53)m Like-for-like growth > Hotels: +3.6% Owned & leased: +2.8% Fees: +10.0% Impact of expansion > Openings: 8,537 new rooms (57 hotels) in Q4, of which 2,458 rooms in Franchise (29% of openings) 5,299 rooms in Management (62% of openings) Impact of disposals > Asset management: (39)m > Other disposals: (14)m -3.5% -3.1% Currency (50)m Reported (45)m Currency effect > AUD: -1.4%, (20)m > BRL: -0.9%, (13)m > GBP: -0.3%, (5)m 5

6 Up & Midscale Q Revenue: 879m, up 3.3% L/L FY 2013: +2.9% +2.4% +0.7% +3.7% +3.6% +3.3% L/L Revenue growth (in %) Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Owned & Leased Management & Franchise fees Strong performance recorded across all geographies, notably in France, Germany, the UK and most Emerging markets Continued good balance between capital cities and provinces with solid demand from leisure travelers Fast growth for upscale brands, especially MGallery and Pullman 6

7 Economy Q Revenue: 490m, up 4.1% L/L FY 2013: +2.4% L/L Revenue growth (in %) +2.1% Q % +4.1% +2.4% Q % Q2 13 Q3 13 Q4 13 Owned & Leased Management & Franchise fees Strong performance in Europe, including double-digit revenue growth in the UK Continued improvement in Southern Europe Success of the distribution strategy with effects on both prices and occupancy 7

8 Conclusion 8

9 Conclusion Solid business trends across all segments and geographies Continued improvement in Europe, lifted by the UK and Germany Strong fee-based income increase Negative currency effects in H2 offset by favorable environment 2013 EBIT target revised: around 530m, vs previous objective 510m - 530m Agenda 2013 Results February 20,

10 Appendices 10

11 Hotels FY 2013 RevPAR by segment Worldwide Owned & leased Owned & leased + managed Excl. VAT Occupancy rate Average Room Rate RevPAR (in %) (chg in pts, (chg in pts, L/L) (chg in %, L/L) (chg in %, (chg in %, L/L) reported) Up & Midscale Economy

12 Hotels Q RevPAR by segment Worldwide Owned & leased Owned & leased + managed Excl. VAT Occupancy rate Average Room Rate RevPAR (in %) (chg in pts, (chg in pts, L/L) (chg in %, L/L) (chg in %, (chg in %, L/L) reported) Up & Midscale Economy

13 Q RevPAR & Revenue Key markets Up & Midscale Occupancy* Net ARR* Net RevPAR* Revenue % D (L/L, pts) D (L/L, %) D (L/L, %) m D (L/L, %) France Germany UK ( ) * For owned & leased only Economy Occupancy* Net ARR* Net RevPAR* Revenue % D (L/L. pts) D (L/L, %) D (L/L, %) m D (L/L, %) France Germany UK ( ) * For owned & leased only 13

14 Up & Midscale Hotels FY 2013 RevPAR by Country Owned & leased Owned & leased + managed Excl. VAT (in local currency) Number of rooms (in %) Occupancy Rate Average Room Rate RevPAR (chg in pts, L/L) (reported) France 23, Germany 16, Netherlands 3, Belgium 1, Spain 2, Italy 3, UK (in ) 5,

15 Up & Midscale Hotels Q RevPAR by Country Owned & leased Owned & leased + managed Excl. VAT (in local currency) Number of rooms (in %) Occupancy Rate Average Room Rate RevPAR (chg in pts, L/L) (reported) France 23, Germany 16, Netherlands 3, Belgium 1, Spain 2, Italy 3, UK (in ) 5,

16 Economy Hotels FY 2013 RevPAR by Country Owned & leased Owned & leased + managed Excl. VAT (in local currency) Number of rooms Occupancy Rate Average Room Rate RevPAR (in %) (chg in pts, L/L) (reported) France 35, Germany 15, Netherlands 2, Belgium 2, Spain 4, Italy 1, UK (in ) 10,

17 Economy Hotels Q RevPAR by Country Owned & leased Owned & leased + managed Excl. VAT (in local currency) Number of rooms Occupancy Rate Average Room Rate RevPAR (in %) (chg in pts, L/L) (reported) France 35, , Germany 15, Netherlands 2, Belgium 2, Spain 4, Italy 1, UK (in ) 10,

18 Reconciliation: FY 2013 L/L RevPAR vs Revenue Worldwide RevPAR O&L and Managed Reported RevPAR O&L Only Like-forlike Like-for-like room revenues Total Like-for-like revenues Up & Midscale +0.5% +2.5% +2.0% +2.9% Economy +0.5% +1.9% +1.6% +2.4% 18

19 Reconciliation: Q L/L RevPAR vs Revenue Worldwide RevPAR O&L and Managed Reported RevPAR O&L Only Like-forlike Like-for-like room revenues Total Like-for-like revenues Up & Midscale -2.2% +3.7% +3.5% +3.3% Economy +1.3% +4.2% +4.0% +4.1% 19

20 FY 2013 Exchange Rates 1 = X foreign currency FY 2012 average rate FY 2013 average rate 2013 vs Change Australian dollar (AUD) % Brazilian real (BRL) % Sterling (GBP) ,7% Swiss Franc (CHF) % US Dollar (USD) % 20

21 Q Exchange Rates 1 = X foreign currency Q average rate Q average rate 2013 vs Change Australian dollar (AUD) % Brazilian real (BRL) % Sterling (GBP) % Swiss Franc (CHF) % US Dollar (USD) % 21

22 Management & Franchise Fees by Segment Revenue (in m) FY 2012 FY 2013 Change, at constant exchange rates * Managed Franchised Total Managed Franchised Total Total Up & Midscale % Economy % TOTAL % Revenue (in m) Q Q Change, at constant exchange rates Managed Franchised Total Managed Franchised Total Total Up & Midscale % Economy % TOTAL % * Restated from Mirvac and Posadas acquisitions 22