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Peppers Docklands, Melbourne
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Mantra Group Overview
Mantra Group
Australian Market
Contents
3
24
18
State of Market 8
Mantra Salt, Kingscliff
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Peppers Noosa, Noosa
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Mantra Group*
4
• Largest Australia-based hotel and resort operator
• 20,500+ rooms under management in 125+ properties
across Australia, New Zealand, Bali – Indonesia and
Hawaii
• Successfully listed on the Australian Securities
Exchange in June 2014
• Quality, diversified property portfolio with long tenure—
average remaining agreement tenure of 18 years
• 5,000+ employees
Operating segment
CBD 47%
Resorts 23%
Central distribution
30%
CBD - RevPAR (A$)
134 140 144 147 149 151
76.9% 78.7%
81.7%
84.1% 84.5% 85.9%
65%
70%
75%
80%
85%
90%
100
120
140
160
180
FY11 FY12 FY13 FY14 FY15 1H16
RevPAR % occupancy
Resorts – RevPAR (A$)
85 90
94 99
105
126 58.8%
62.5% 64.0%
65.6%
69.5%
75.3%
50%
55%
60%
65%
70%
75%
80%
70
85
100
115
130
FY11 FY12 FY13 FY14 FY15 1H16
RevPAR % occupancy
*Includes Ala Moana, Honolulu which settles in July 16
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Source: STR, December 2015
Supply & Demand % Change, December 2015 YTD
9
-2%
-1%
0%
1%
2%
3%
4%
5%
6%
North America Central & SouthAmerica
Europe Middle East Africa Asia Australia &Oceania
Supply Demand
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Source: 100 Years of Commercial Flight, IATA & Global Market Forecast, Flying by Numbers, 2015-2034 10
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Source: UNWTO Tourism Highlights, 2015 Edition 11
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Source: Global Market Forecast 2015 12
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Source: Flight Centre, The Golden Age of Travel, 21 April 2015 13
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Source: McKinsey Global Institute, Urban world: Cities and the rise of the consuming class, June 2012 14
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Source: PWC, Australia’s Jobs Future 15
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0
5
10
15
20
25
0
20
40
60
80
100
120
140
160
180
200
220
05A 07A 09A 11A 13A 15CL 17CL 19CL
Outbound tourists Growth (RHS) (%)
Cagr 15%
Cagr 11%
(m)
•
•Source: CLSA, ‘The next wave’, December 2014 16
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Total of 528,094 rooms in the pipeline for the listed regions
Source: STR, April 2016
0 100,000 200,000 300,000
China | 316,915 | 60.0%
Indonesia | 60,717 | 11.5%
India | 46,700 | 8.8%
Malaysia | 29,680 | 5.6%
Australia | 22,116 | 4.2%
Thailand | 18,192 | 3.4%
South Korea | 10,832 | 2.1%
Vietnam | 16,751 | 3.2%
Singapore | 6,191 | 1.2%
17
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Peppers Beach Club & Spa, Palm Cove
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Source: Tourism Research Australia, Tourism Forecasts 2015 19
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Source: ABS
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015
10 Year International Short-term (less than one year)
International Arrivals
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Source: Tourism Research Australia
21.00%
22.00%
23.00%
24.00%
25.00%
26.00%
10 Year - International Room Nights % for Hotel/Resort/Motel or Motor Inn
International
73.00%
74.00%
75.00%
76.00%
77.00%
78.00%
10 Year - Domestic Room Nights % for Hotel/Resort/Motel or Motor Inn
Domestic
21
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0
20,000
40,000
60,000
80,000
100,000
120,000
FY
00
FY
01
FY
02
FY
03
FY
04
FY
05
FY
06
FY
07
FY
08
FY
09
FY
10
FY
11
FY
12
FY
13
FY
14
FY
15
F
FY
16
F
FY
17
F
FY
18
F
FY
19
F
FY
20
F
FY
21
F
FY
22
F
(rooms) Hotel rooms
Source: Dransfield (CLSA, The next wave, December 2014) 22
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Source: Tourism Research Australia, Tourism Forecasts 2015 (Deloitte Access Economics, Tourism & Hotel Market Outlook August 2015)
$40
$80
$120
$160
$200
55%
57%
59%
61%
63%
65%
67%
69%
71%
73%
75%
ROOM OCC% ROOM RATE REVPARPoly. (ROOM OCC%) Poly. (ROOM RATE) Poly. (REVPAR)
23
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Peppers Cradle Mountain, Tasmania
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Mantra Group has demonstrated a flexibility in its approach to operating agreements
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Revenue (A$mm)
EBITDA (A$mm)
396 414 424 455 499
307
4.5% 2.5% 7.2%
9.7% 21.7%
0%
5%
10%
15%
20%
25%
200
300
400
500
600
FY11 FY12 FY13 FY14 FY15 1H16
Revenue % growth
49 54 58 61 73
53
12.2% 13.0% 13.6% 13.5% 14.7%
17.3%
0%
4%
8%
12%
16%
20%
0
20
40
60
80
100
120
FY11 FY12 FY13 FY14 FY15 1H16
EBITDA % margin
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Largest category marketer
in Australia
• A$20mm+ annual sales &
marketing spend
• 25,000+ online hits per day
A$7bn+ assets under
management
• Large hotel leasing portfolio
• Significant bargaining power
Best-in-class structures
• Centralised low-cost
group operating model
• 50%+ gross margins
3 high awareness brands
Market leading sales
support
• 60 sales specialists
• Cater to corporate,
leisure & property-based
divisions
Flexible & tailored operating
models
• Caters to the requirements
of all kinds of stakeholders
#1 Australia based hotel
& resort operator
• 19,500+ rooms under
management
Complete investor offering
• Real estate sales &
branding
• In house design &
renovation
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29 Map is not to scale
Australia
New Zealand
Indonesia
Malaysia
Singapore
Thailand
Hawaii For
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Jun-14
Jul-14
Dec-14
Oct-14
Jun-15
Jan-15
Apr-15
Jan-16
Jul-15
Dec-15
• IPO in Jun-14:
• Peppers: 30 properties / 2,271 rooms
• Mantra: 58 properties / 7,591 rooms
• BreakFree: 26 properties / 1,919 rooms
• Launched Peppers brand
in Canberra with an 80
room CBD hotel
• Dec-14:
• Peppers: 29 properties / 2,245 rooms
• Mantra: 60 properties / 7,704 rooms
• BreakFree: 25 properties / 1,848 rooms
• Acquired Outrigger Hotels
& Resorts for $29.5mm
• Launched BreakFree on
Clarence, a 52 room hotel
in Sydney CBD
• Launched Mantra Bell City
(383 rooms) and
BreakFree Bell City (461
rooms) in Melbourne
• Secured a hotel management
agreement for a 261-room
resort on the Nusa Dua
Peninsular, Bali
• Reached an aggregate
of 119 properties and
13,000+ rooms
• Reached an aggregate of
125+ properties and
19,500+ rooms
• Launched Pepper Docklands
in Melbourne CBD
Jul-16
• Settle Ala Moana Hotel,
Hawaii (1,176 rooms)
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Income statement
(A$mm) FY15 1H16
Revenue 499 307
Total operating expenses (426) (259)
EBITDAI1 73 48
%margin 14.7% 15.7%
Depreciation, amortisation (excluding
amortisation of lease rights) and impairment (15) (9)
EBITA 59 39
Amortisation of lease rights (4) (2)
EBIT 55 37
%margin 11.0% 12.1%
Net interest (4) (3)
Pretax income 51 35
Tax (15) (11)
Net income 36 24
%margin 7.3% 7.9%
(A$mm) Dec-15
Cash and cash equivalents 42
Trade and other receivables 69
Other current assets 6
Current assets 117
PPE 121
Intangible assets 475
Other non-current assets 1
Total non-current assets 596
Total assets 713
Trade and other payables 45
Other 61
Total current liabilities 106
Borrowings 160
Deferred tax liabilities 93
Other non-current liabilities 3
Total non-current liabilities 257
Total liabilities 363
Net assets 350
Balance sheet
Note: Financial year ends in June 1 EBITDAI – Earnings Before Interest, Taxation, Depreciation, Amortisation and Impairment
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Mantra South Bank, Brisbane
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