CENTRAL PLAZA HOTEL plc. announces performance results for Q1/2010

CENTRAL PLAZA HOTEL plc. announces performance results for Q1/2010 :
Consolidated total revenues grew by 17.1% YoY,
and Consolidated Net Profit grew by 41.9% YoY

There were many positive signs signifying a global economic recovery towards the end of 2009 - whereby international tourists arrivals started to show an upward and dramatically increasing trend since September, ending with a very strong 46% YoY growth for the month of December.

And despite the ongoing political unrest having some negative effects on the Thai travel industry, there was only minimal overall impact for the tourism business during Q1/10, during which period the Thai Hotels Industry’s overall average occupancy (AOC) improved when compared to the same period last year - at 60.7% (or an increase of 7.3% YoY), while average RevPAR was Baht 1,356. However, the CENTARA Group of hotels and resorts achieved even better results than these industry averages : viz, with AOC at 71.6% and RevPAR at Baht 2,908.

CENTEL’s Q1/10 operating performance results are as follows :

• Total consolidated revenues was Baht 2,525.2 million (an INCREASE of Baht 368.8 million or 17.1% Year-on-Year (YoY)).
  
  This is due to significantly improved overall performance by the Hotels Business Group – especially those of the existing properties (with the exception of the Sofitel Centara Grand, Bangkok which is closed for major renovations) as well as that of the newest property, the Centara Grand Mirage Beach Resort, Pattaya which officially started operations in November 2009 and whose total revenues for Q1/10 was Baht 236.3 million.
  
  Additionally, the Food Business Group total revenues showed an INCREASE of 8.4% YoY – due to expansion in the number of our QSR outlets (now totaling 486) as well as sustained marketing campaigns; whereby both ‘same stores sales’ and ‘total systems sales’ achieved positive increases - by 11.4% and 19.1% respectively.
• Consolidated EBITDA was Baht 647.8 million (an INCREASE of Baht 171.9 million or 36.1% YoY)
• Consolidated Net Profit was Baht 205.7 (an INCREASE of 41.9% YoY) – mainly due to significant revenues growth together with sustained effective costs control and improved expenses management that has resulted in increased overall profitability compared to the same period last year.

As for the current and ongoing political protests at the Rajaprasong area, this has unfortunately had a direct effect on the operations of the Centara Grand and Bangkok Convention Centre at Central World. as well as on 21 QSR outlets located in the area. Thus, some – although slight - negative impact is expected on the overall operations of CENTEL, if this political protest in the Rajaprasong area is not prolonged and ends quickly.

For more information, please contact
Khun Ronnachit Mahatanapruet, SVP, Finance & Administration.

THE CENTRAL PLAZA HOTEL plc.
Floor 25, 999/99 Rama 1 Rd., Patumwan, BANGKOK 10300.
Tel : (66) 02 769 1234 (ext 6131)
Fax : (66) 02 100 6231
E-mail: ronnachitma@chr.co.th

Attachments