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In collaboration with:

2013 MALAYSIA Hotel Industry Survey of Operations

2012 Financial Year

T ABLE OF C ONTENTS
FOREWORD BY MALAYSIAN ASSOCIATION OF HOTELS FOREWORD BY HORWATH HTL ASIA PACIFIC ANNUAL STUDY HONORARY ADVISORY BOARD 2012 OVERVIEW CHART 1.1 CHART 1.2 ARRIVALS TO MALAYSIA ARRIVALS TO MALAYSIA - TOP TEN ARRIVALS 2! 3! 4! 5! 5 6! 7! 7 8 10 11 12 13! 15! 16! 17! 18! 19! 20! 20! 21! 22! 22! 23! 24! 25! 26! 26! 27! 28! 29! 29! 30! 31! 32! 32! 33! 34! 34! 35! 36! 36! 37! 38! 39! 40! 41!

SUMMARY OF RESULTS TABLE 1.1 TABLE 1.2 TABLE 1.3 CHART 1.3 TABLE 1.4 2012 VS. 2011 BY NUMBER OF GUESTROOMS BY AVERAGE ROOM RATES OCCUPANCY TRENDS BY LOCATION BY LOCATION

DEPARTMENTAL REVENUES & EXPENSES TABLE 2.1 2012 VS. 2011 TABLE 2.2 ! BY NUMBER OF GUESTROOMS TABLE 2.3 ! BY AVERAGE ROOM RATES TABLE 2.4 ! BY LOCATION TABLE 2.5! BY LOCATION DEPARTMENTAL EXPENSES TABLE 3.1 ! TABLE 3.2 ! BY NUMBER OF GUESTROOMS AND AVERAGE ROOM RATE BY LOCATION

UNDISTRIBUTED EXPENSES TABLE 4.1 ! TABLE 4.2 ! TABLE 4.3 ! BY NUMBER OF GUESTROOMS BY AVERAGE ROOM RATES BY LOCATION

RESERVATION AND SALES STATISTICS FOOD & BEVERAGE STATISTICS 1 TABLE 5.1 ! TABLE 5.2 ! TABLE 5.3 ! PER OCCUPIED ROOM NIGHT PER AVAILABLE ROOM PER DAY PERCENTAGE OF REVENUE

FOOD & BEVERAGE STATISTICS II TABLE 6.1 ! TABLE 6.2 ! BY NUMBER OF ROOMS & AVERAGE ROOM RATE BY LOCATION

LABOR STATISTICS PRODUCTIVITY ANALYSIS TABLE 7.1 ! TABLE 7.2 ! BY NUMBER OF ROOMS AND AVERAGE ROOM RATE BY LOCATION

BUSINESS MIX PROFILE TABLE 8.1 ! TABLE 8.2 ! BY NUMBER OF ROOMS AND AVERAGE ROOM RATE BY LOCATION

NATIONALITY PROFILE TABLE 9.1 ! TABLE 9.2 ! BY NUMBER OF ROOMS AND AVERAGE ROOM RATE BY LOCATION

UTILITIES STATISTICS EXPLANATION OF TERMS & BASES USED PARTICIPATING PROPERTIES ABOUT HORWATH HTL ASIA PACIFIC

MALAYSIA HOTEL INDUSTRY SURVEY 2013

F OREWORD BY M ALAYSIAN A SSOCIATION OF H OTELS

The Malaysian Association of Hotels (MAH) is once again proud to be partnering with Horwath HTL in the 11th year of publication of the annual Malaysia Hotel Industry Survey of Operations. In any industry, intimate knowledge of market information is valuable in enabling players to continuously improve business strategies and confidently tackle new endeavours. Over the years, this compilation of data of the Malaysia hotel industry has proven itself to be a crucial tool not just for future budgeting and planning purposes by hotels, but also for other sectors that are interested in the industry, both private and public. We are delighted with the higher participation of hotel members in this years study, with a total of 100 participating hotels from 79 in 2012. I would like to extend my sincere appreciation and gratitude to all members of MAH who have participated in making this exercise a success. Recognition is also given to Horwath HTL who has meticulously compiled this comprehensive report.

Thank you.

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Datuk Mohd Ilyas Zainol Abidin President Malaysian Association of Hotels

MALAYSIA HOTEL INDUSTRY SURVEY 2013

F OREWORD BY H ORWATH HTL A SIA P ACIFIC

Horwath HTL is pleased to present to you the 2013 Malaysia Hotel Industry Survey of Operations. The Malaysia hotel industry joins the rest of the Tourism sector in facing the challenge of the Tourism Transformation Plan in delivering 36 million tourists by 2020. Our goal at Horwath HTL is to provide industry players with aggregate and concise information about the hotel market in the country that will hopefully enable you to plan better in contributing to, and achieving, these goals. This is what we hope this annual study brings to you. This years issue has seen the biggest participation since it began publication 11 years ago, with a total of 100 represented hotels. Warmest thanks to all the properties that have contributed and have made this study possible, and our gratitude to the Malaysian Association of Hotels for their continued partnership.

Yours Sincerely,

Robert Hecker Managing Director Horwath HTL Pacific Asia

MALAYSIA HOTEL INDUSTRY SURVEY 2013

A NNUAL S TUDY H ONORARY A DVISORY B OARD

Gerard Guillouet
Senior Vice President Malaysia, Indonesia & Singapore Accor Hospitality

Brett Butcher

Chief Executive Officer Langham Hospitality Group

Michel van de Hoeven

Senior Vice President Development Minor International

Eric Waldburger
President Marco Polo Hotels

Abid Butt

Simon F. Cooper

Chief Executive Officer Banyan Tree Hotels and Resorts

President & Managing Director Asia Pacific Marriott International

Simon Barlow
President Asia Pacific Carlson Rezidor Hotel Group

Andrew Hickey
Regional Vice President Meritus Hotels and Resorts

Ian Wilson

Regional Vice President China and South East Asia Fairmont Hotels and Resorts

Sherman Ho

Director of Development Oakwood Asia Pacific

Christopher W. Hart
President Hotel Operations Asia Pacific Four Seasons Hotels and Resorts

Peter Henley
President and CEO Onyx Hospitality Group

Choe Peng Sum

Chief Executive Officer Frasers Hospitality

Patrick Imbardelli
President & CEO Pan Pacific Hotels Group

Martin Rinck
President - Asia Pacific Hilton Worldwide

Stephen Ho
President Asia Pacific Starwood Hotels and Resorts

Pete Sears

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Iqbal Jumabhoy Managing Director & Group CEO SilverNeedle Hospitality Pte Ltd

Senior Vice President Operations Asia Pacific Hyatt Hotels Corporation

Jan Smits
Chief Executive Officer Asia, Middle East and Africa InterContinental Hotels Group

Aiden McAuley
Regional Vice President Asia Pacific Swisstel Hotels and Resorts

Marc Hediger

Chief Executive Officer Lanson Place Hospitality

MALAYSIA HOTEL INDUSTRY SURVEY 2013

2012 O VERVIEW
TOURISM MARKET The target of 25 million tourist arrivals set by Tourism Malaysia for 2012 was achieved, with total arrivals recorded at 25.03 million, a growth of 1.3 percent from 24.7 million in 2011. Tourist receipts increased by 4.0 percent to a total of MYR 60.6 billion in 2012 from MYR 58.3 billion the previous year, making tourism still the 3rd largest contributor of foreign currency in the country. ASEAN countries are still the biggest source of tourist arrivals with approximately 75 percent share. New tourism products such as the Johor Premium Outlets and the Legoland theme park, as well as competitive fare offers of various regional and domestic low-cost carriers have attributed to the increasing tourists arrivals. Among the top 10 source countries, significant increases were seen in arrivals from the Philippines (40.5 percent), China (24.6 percent) and Japan (21.5 percent). On the other hand, decreases were recorded for arrivals from Thailand (12.4 percent), Australia (9 percent) and Singapore (2.7 percent). China was the biggest source of tourist arrivals after Singapore and Indonesia, with 1.6 million arrivals in 2012, an increase from 1.3 million in 2011. Other countries in Asia that showed noteworthy increases in tourist arrivals were Nepal (50.6 percent), Laos (30 percent), and Vietnam (21.4 percent) Among Middle Eastern countries, Iraq posted a sharp increase in arrivals of 62 percent, while Saudi Arabia also showed an increase of 17 percent. Tourist arrivals as of March 2013 stood at 6.4 million, a growth of 16 percent from the same period in 2012. Tourism Malaysia is targeting a total of 26 million tourists in 2013.

CHART 1.1

ARRIVALS TO MALAYSIA

MALAYSIA HOTEL INDUSTRY SURVEY 2013

CHART 1.2

ARRIVALS TO MALAYSIA CHANGES IN TOP TEN ARRIVALS

HOTEL MARKET Based on statistics by Tourism Malaysia, the average occupancy rate across hotels in the country was at 62.4 percent in 2012, an increase of 1.8 points from the 60.6 percent occupancy rate in 2011. Pahang showed the highest occupancy among the states, with an 81.8 percent occupancy rate, followed by Kuala Lumpur and Selangor, with 69.3 percent and 67.3 percent, respectively.

MALAYSIA HOTEL INDUSTRY SURVEY 2013

S UMMARY OF R ESULTS
KEY FINDINGS Aggregate occupancy rates among participating hotels were at 71.0 percent, a slight increase from the 70.0 percent occupancy rate in 2011. Among the locations, PJ / Subang / Sepang showed the biggest improvement growth by 10.0 percent, while occupancy in Kota Kinabalu dropped significantly by -16.0 percent. Hotels in Other locations showed the highest occupancy rate at 78.0 percent. A 6.0 percent increase in Average Daily Room Rate (ADR) makes up for the minimal improvement in occupancy rates in 2012. Increases in daily rates were seen for all locations except Langkawi, which showed a 17.0 percent decline in rates. The biggest improvement in rates was seen in Penang (25.0 percent) and Kota Kinabalu (22.0 percent). The increase in ADR resulted in an increase in Total Revenue per Daily Available Room of 6.0 percent. With Total Expenses per Daily Available Room only increasing by 4.0 percent, the increase in Total Revenue PAR translated to an increase in Gross Operating Profit (GOP) or Income before Fixed Charges and Management Fees (IBFCMF) of 7.0 percent. 2012 VS. 2011

TABLE 1.1

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MALAYSIA HOTEL INDUSTRY SURVEY 2013

BY HOTEL SIZE Occupancy Increases in Occupancy were seen across all hotel size categories, with percentage increases ranging from 2.0 to 3.0 percent. As in 2011, properties with more than 400 rooms posted the highest occupancy levels. ADR and RevPAR Hotels with a room inventory less than 250 still recorded the highest ADR at MYR 270, but experienced a 7.0 percent decline compared to a 2011 ADR of MYR 291. As a result of the declining ADR, the RevPAR for hotels in this category also went down by 4.0 percent, from RM 178 in 2011 to RM 171 in 2012. Properties with room inventory between 250 and 400 and those with more than 400 rooms both showed improvements in ADR of 9.0 percent and 7.0 percent, respectively. This translated to a 12.0 percent increase in RevPAR for hotels with 250 - 400 rooms, and a 9.0 percent increase in RevPAR for the bigger hotels. Revenues Due to having the highest occupancy levels across the size categories, hotels with a room inventory above 400 recorded the highest Total Revenue PAR, which translated to the highest GOP / IBFCMF PAR and GOP / IBFCMF as a percentage of Revenues. Meanwhile, properties with a room inventory between 250 and 400 rooms posted the biggest growth in Total Revenue per Guest Night and Total Revenue PAR. Despite a 10.0 percent increase in Total Expenses PAR, hotels in this size category still saw a significant 17.0 percent improvement in GOP / IBFCMF PAR. The smaller hotels experienced a decline in Total Revenue PAR and in GOP / IBFCMF PAR. However, since Total Expenses PAR also went down, GOP / IBFCMF as a percentage of Revenues is maintained at the same level as 2011. TABLE 1.2 BY NUMBER OF GUESTROOMS

MALAYSIA HOTEL INDUSTRY SURVEY 2013

BY AVERAGE ROOM RATES Occupancy and ADR Hotels with average rates less than MYR 200 saw a 3.0 percent decline in occupancy, but with improvements in ADR of 4.0 percent. Meanwhile, those in the MYR 200-300 rate category experienced a 4.0 percent improvement in occupancy, matched with a 2.0 percent increase in ADR. Hotels with rates higher than MYR 300 also showed improved occupancy levels compared to previous year, but with a slight decrease of 3.0 percent in ADR. Revenue The MYR 200 - 300 category experienced substantial improvements in GOP / IBFCMF PAR as well as GOP / IBFCMF as a percentage of Revenues in 2012. This is a result of an increase in Total Revenues PAR of 2.0 percent coupled with a 2.0 percent reduction in Total Expenses PAR. Hotels in the higher rate category saw a decrease in Total Revenues PAR and GOP / IBFCMF PAR despite a 4.0 percent decrease in Total Expenses PAR.

MALAYSIA HOTEL INDUSTRY SURVEY 2013

TABLE 1.3

BY AVERAGE ROOM RATES

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BY LOCATION Occupancy Most locations saw maintenance or a slight improvement of their 2011 occupancy levels. Exceptions were PJ / Subang / Sepang, which saw a marked increase in occupancy from 60.0 percent in 2011 to 65.0 percent in 2012, and Kota Kinabalu, where occupancy declined from 72.0 percent in 2011 to 60.0 percent in 2012. ADR and RevPAR Hotels in Penang saw the strongest Y-o-Y growth in both ADR and RevPAR, with both measures recorded at 25.0 percent. In Kota Kinabalu, the decrease in occupancy rates is offset by a significant increase in ADR of 22.0 percent, resulting to an improvement in RevPAR of 2.0 percent. Kuching also showed a noteworthy increase in both ADR and RevPAR of 13.0 and 14.0 percent, respectively. Average rates among participating hotels in Langkawi declined by 17.0 percent, consequently leading to a 16.0 percent decrease in RevPAR. Revenues As a result of the marked increase in ADR and RevPAR, Total Revenue PAR for hotels in Penang went up by 22.0 percent. However, Total Expenses PAR also went up by a similar rate, resulting to GOP / IBFCMF as percentage of Revenues remaining at the same levels as 2011. Total Revenue PAR for Langkawi hotels declined by 21.0 percent as a result of the decrease in ADR and RevPAR. However, Total Expenses PAR also went down by 21.0 percent, thus maintaining GOP / IBFCMF in relation to revenue. PJ / Subang / Sepang showed the biggest improvement in profitability, as shown by GOP / IBFCMF as a percentage of Revenues.

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CHART 1.3 OCCUPANCY TRENDS BY LOCATION

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TABLE 1.4

BY LOCATION

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D EPARTMENTAL R EVENUES & E XPENSES

ROOMS DIVISION The overall Rooms departmental profit PAR for 2012 recorded a Y-o-Y increase of 9.0 percent, resulting in a PAR profit of MYR 46,195 when compared to MYR 42,428 in 2011. (Page 14) Total Expenses PAR for the department increased by 6.0 percent, with payroll expenses PAR increasing by 3.0 percent as compared to 2011, while All Other Expenses increased by 7.0 percent. (Page 19)

FOOD & BEVERAGE DEPARTMENT

Total F&B Revenue on per Daily Available Room basis recorded a Y-o-Y increase of 2.0 percent, primarily due to an increase in revenue from Other F&B. However, Total F&B expenses also increased by 3.0 percent driven by higher levels of Other Expenses, bringing departmental profitability down by 2.0 percent versus previous year. (Page 14) Properties in the less than 250 rooms, above MYR 300 rate, and in the PJ / Subang / Sepang area categories all recorded the highest POR F&B revenue, at MYR 158, MYR 272, and MYR 241 respectively, a trend that continued from last year. (Page 15, 16, 18)
Revenue from Restaurant Outlets contributed to 47.0 percent of total F&B revenue, with Banquets being the second source with a 39.0 percent contribution. (Page 27)

UNDISTRIBUTED OPERATING EXPENSES 2012 UOE PAR figures increased by 3.0 percent compared to previous year. In 2012, the total UOE PAR was MYR 25,404 or 25.0 percent of the total revenue. (Page 21) Hotels with room inventory of less than 250, with rates between MYR 200-MYR 300, and in Kuching showed the highest UOE as a percentage of total revenue, at 30.0 percent, 26.0 percent and 30.0 percent, respectively. (Page 21, 22, 23)

LABOR STATISTICS The average Full-Time Employee (FTE) PAR was at 0.79 in 2012, similar to the 2011 level of 0.78. (Page 31) The average employee hours on a POR basis increased by 3.0 percent, reporting 7.6 in 2012, up from 7.4 in 2011. (Page 31) Payroll and Related Expenses as a percentage of Total Revenues in 2012 was maintained at 23.0 percent, the same level as 2011. (Page 30) Average Employee Hours per Cover for the F&B Department in 2012 averaged at 1.00, an increase from 0.80 in 2011. (Page 31)

MARKET DEMAND SEGMENT PROFILE Transient groups still have the biggest share of demand among market segments. Direct FIT travellers are at a 39.0 percent share, followed by Corporate FIT (22.0 percent) and Wholesale FIT (15.0 percent) travellers. (Page 33) Wholesale FIT travellers achieved the highest ADR by segment at MYR 298, whereas in 2011 the segment that had the highest ADR was the Direct Leisure FIT segment. The Corporate FIT segment had the next highest ADR in 2012 at MYR 278. (Page 33)

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NATIONALITY PROFILE Half (47 percent) of guests across the participating hotels still came from within Malaysia, with the other half (53 percent) coming from outside the country. Among foreign guests, Singapore still has the largest contribution at 10 percent. Apart from Singapore, China, Middle East and Australia/New Zealand were also big source countries, each with a share of 4 percent of hotel guests in 2012. (Page 36) Hotels with more than 400 rooms and those with rates less than MYR 200 had the highest proportion of Asian guests (including Domestic), at 81 percent and 90 percent, respectively. Meanwhile, higher rate hotels saw a higher share of guests from Europe, Middle East and Australia/New Zealand. (Page 36 & 37) Langkawi continues to have a high proportion of guests from Europe, Middle East, Australia/New Zealand, and Other Countries.

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TABLE 2.1 - 2012 VS. 2011

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TABLE 2.2

BY NUMBER OF GUESTROOMS

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TABLE 2.3

BY AVERAGE ROOM RATES

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TABLE 2.4

BY LOCATION

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TABLE 2.5

BY LOCATION

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D EPARTMENTAL E XPENSES
TABLE 3.1 BY NUMBER OF GUESTROOMS AND AVERAGE ROOM RATE

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TABLE 3.2

BY LOCATION

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U NDISTRIBUTED E XPENSES
TABLE 4.1 BY NUMBER OF GUESTROOMS

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TABLE 4.2

BY AVERAGE ROOM RATES

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TABLE 4.3

BY LOCATION

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R ESERVATION AND S ALES S TATISTICS

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F OOD & B EVERAGE S TATISTICS 1

TABLE 5.1 PER OCCUPIED ROOM NIGHT

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TABLE 5.2 PER AVAILABLE ROOM PER DAY

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TABLE 5.3

PERCENTAGE OF REVENUE

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F OOD & B EVERAGE S TATISTICS II

TABLE 6.1 BY NUMBER OF ROOMS & AVERAGE ROOM RATE

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TABLE 6.2

BY LOCATION

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L ABOR S TATISTICS

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P RODUCTIVITY A NALYSIS
TABLE 7.1 BY NUMBER OF ROOMS AND AVERAGE ROOM RATE

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TABLE 7.2

BY LOCATION

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MALAYSIA HOTEL INDUSTRY SURVEY 2013 33

B USINESS M IX P ROFILE
TABLE 8.1 BY NUMBER OF ROOMS AND AVERAGE ROOM RATE

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TABLE 8.2 BY LOCATION

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N ATIONALITY P ROFILE
TABLE 9.1 BY NUMBER OF ROOMS AND AVERAGE ROOM RATE

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TABLE 9.2

BY LOCATION

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U TILITIES S TATISTICS
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E XPLANATION OF T ERMS & B ASES U SED

Rooms Revenue Revenues obtained from guests accommodation rented on a part-day, full-day or longer period basis. The figures include service charges that are retained as room revenue, excluding hotel accommodation tax and tips given to employees. Food Revenue Revenue derived from the sale of food in restaurants, inroom dining, mini bar, banquets and/or catering. This includes service charges that are retained as revenue, but excludes tax and tips given to employees. Beverage Revenue Revenue derived from the sale of alcoholic and non-alcoholic drinks. This includes service charges that are retained as revenue, but excludes tax and tips given to employees. Minor Operating Departments Revenue Revenues generated from laundry, health center, swimming pool, valet and other operated department revenues not mentioned. Rental and Other Revenue Revenues related to a third party or revenues that do not incur any direct operating expenses, including foreign currency transaction gains (losses), income from rental of stores and showcases, commissions, cancelation penalties, cash discounted earned etc. Cost of Food Sales Includes cost of food served to guests, together with transportation and delivery charges, at gross invoices price less trade discounts. The cost of employees meals is charged to the appropriate department and does not constitute a part of the cost of food sold. Cost of Beverage Sales Represents the cost of alcoholic and non-alcoholic drinks served to guests or used in the preparation of mixed drinks, at gross invoice price less trade discounts, plus import duties, transportation and delivery charges. The cost of employees beverages is charged to the appropriate department and does not constitute a part of the cost of food sold. Cost of Minor-Operated Department Sales Represents the cost from laundry, health center, swimming pool, valet and other operated department revenues not mentioned. Payroll & Related Expenses Comprises of expenses associated with salaries, wages and bonuses and payroll-related expenses for employees. Also included are the employee benefits such as social insurances, medical allowance, vacation and holiday pay, goods and services to employees free of charge or at markedly reduced price, employee meals. Rooms Other Expenses Represents non-payroll expenses for the room department, including the expenses of cable/satellite, television, cleaning supplies, commissions, complementary services and gifts, guest supplies, linen, printing and stationary, loyalty fees, equipment rentals, corporate office reimbursable, etc. Food and Beverage Other Expenses Represents non-payroll expenses for food and beverage department, including china and glassware, cleaning supplies, decorations, guest supplies, laundry, linen, music and entertainment, menus and beverage lists, silver and uniforms. Minor Operating Departments Other Expenses Represents non-payroll expenses for all other operated departments, including laundry supplies, health center and swimming pool supplies, etc., Undistributed Expenses This classification is used for (1) administrative and general expenses, (2) sales and marketing expenses, (3) energy costs, and (4) property operation and maintenance expenses. Each of these can be considered as an individual entity. The explanations of each category expense are as follows: Administrative and general expenses includes cash overages or shortages, commissions on credit cards, collection charges, executive office expenses, general insurance, postal charges, legal expenses, trade association dues, travelling expenses, accounts and consultants fees. Marketing and related expenses include advertising, sales, promotion, merchandising, public relations and research, plus applicable travel and entertainment expenses and supplies. Energy costs which include the cost of electrical power, fuel, steam and water. Property operation and maintenance expenses include the cost of repairing buildings, electrical and mechanical equipment and fixtures, floor coverings, furniture, grounds and landscaping plus the cost of electric bulbs, mechanical supplies and removal of waste matter. Two levels of profit in this study First level is the Departmental Profit/Loss. Second level is the Gross Operating Profit (sum of department profit less undistributed operating expenses), also referred to as Income before Fixed Charges and Management Fees.

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Kuala Lumpur AnCasa Hotel & Spa Boulevard Hotel Cititel Mid Valley DoubleTree by Hilton Grand Hyatt Grand Millenium Hilton Hotel Istana Hotel Maluri Hotel Maya Ibis Styles Cheras InterContinental Le Meridien Melia Micasa All Suite Novotel Parkroyal Prince Hotel & Residence Radius International Renaissance Royal Hotel Shangri-La Sunway Putra Swiss Garden Swiss Inn The Gardens Hotel & Residences The Royale Chulan The Westin Penang Bayview Georgetown Cititel Eastern & Oriental Eastin G Hotel Holiday Inn Lone Pine Parkroyal Paradise Beach Resort Sunway Penang Sunway Seberang Jaya The Gurney The Northam PJ/Subang/Sepang

P ARTICIPATING P ROPERTIES
Kota Kinabalu Cititel Express Horizon Hotel Hyatt Regency Promenade Hotel The Klagan Hotel The Magellan Sutera The Pacific Sutera Others Avillion Legacy Melaka Berjaya Tioman Resort Dorsett Grand Labuan First World Hotel Four Points by Sheraton Sandakan Genting Grand Holiday Inn Melaka Hotel Sentral Kuantan Hyatt Regency Kuantan Miri Marriott Resort & Spa Mutiara Johor Bahru New World Suites Bintulu Nilai Springs Resort ParkCity Everly Hotel Miri Renaissance Kota Bharu Sabah Hotel Sandakan Swiss -Garden Damai Laut Swiss- Inn Sungai Petani Swiss-Garden Resort & Spa Kuantan Syuen Ipoh The Royale Bintang Seremban

Langkawi Bayview Hotel Casa del Mar Holiday Villa Meritus Pelangi Sheraton The Danna The Datai Frangipani The Westin

Avani Sepang Goldcoast Concorde Shah Alam Concorde Inn KLIA Cyberview Resort & Spa Dorsett Grand Subang Eastin Petaling Jaya Empire Subang Hilton Petaling Jaya Holiday Inn Glenmarie Holiday Villa Hotel & Suites Subang One World Hotel Premier Hotel Klang Pullman Putrajaya Lakeside Sama Sama Hotel KLIA Summit Hotel Subang USJ The Royale Bintang Damansara The Royale Bintang The Curve Kuching Damai Beach Resort Grand Margherita Hilton Pullman Riverside Majestic

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A BOUT H ORWATH HTL A SIA P ACIFIC

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Horwath HTL - Asia Pacific (HHTL) is the regional arm of Crowe Horwath Internationals Hotel, Tourism and Leisure Consulting Group. Since its establishment in 1987, HHTL has been involved with over 2,000 projects throughout the region in all phases of the property lifecycle for clients ranging from individually held businesses to the worlds most prominent hotel companies, developers, lenders, investors and industrial corporations. HHTL currently operates out of offices in Singapore, Hong Kong, Beijing, Shanghai, Jakarta, Kuala Lumpur, Sydney, Mumbai, Tokyo and Auckland. By combining resources from our offices in key cities throughout the Asia Pacific region, we ensure that clients receive a multi-skilled international perspective for their projects and benefit from our wide reaching industry contacts. We are also supported by the Horwath International database, the largest and most complete hotel and tourism related database in the world. HHTL offers a wide range of services at all stages of the property lifecycle. Grouped under three broad areas, our services include the following: Planning & Development Services: Strategic Planning; Market Entry Strategy; Market Research; Macro

Tourism Analysis; Tourism, Project and Destination Master-planning; Site Analysis; Highest and Best Use; Product Conceptualization; Facilities Recommendation; Market and Financial Feasibility; Residual Land Valuation; Hotel Management Company Selection; Management Contract Negotiation Asset Management Services: Owner Representation; Accountability Review; Operational Review;

Benchmarking; Best Practice Analysis; Capital Expenditure Cost/Benefit Analysis; Reposition Strategy and Analysis; Property Tax Appeals; Litigation Support Transaction/Lender Services: Investment/Divestment Strategy; Bid Advisory; Pre-lending Review;

Valuation/Appraisal; Vendor Due Diligence; Insolvency/Receivership; Loan Work-out

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AUSTRALIA
John Smith Managing Director Level 2, 346 Kent St, Sydney NSW 2000, Australia Tel: (61-2) 9320-1777 Fax: (61-2) 9320-1799 Email: sydney@horwathhtl.com!

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INDIA
Vijay Thacker Managing Director 1105 Embassy Center 207 Nariman Point Mumbai 400021 Tel: (91-22) 5631-1480 Fax: (91-22) 5631-1474 Email: mumbai@horwathhtl.com!

NEW ZEALAND
Terry Ngan or Stephen Hamilton Directors Level 11, Forsyth Barr Tower, 55-65, Shortland Street Auckland 1140, New Zealand Tel: (64-9) 309-8898 Fax: (64-9) 309-8980 Email: auckland@horwathhtl.com!

CHINA | Beijing
Julie Dai Director Unit 303, Tower E1, Oriental Plaza No. 1 East Chang-An Ave. Beijing, 100738, China Tel: (86-10) 8518-1833 Fax: (86-10) 8518-1832 Email: beijing@horwathhtl.com!

INDONESIA
Paskalis Yulianus Tyasantoro Analyst Puri Matari 2, 3rd Floor, Jl.H.R. Rasuna Said Kab. H 1-2, Jakarta 12920 Indonesia Tel: (62-21) 527-7718 Fax: (62-21) 527-7717 Email: jakarta@horwathhtl.com!

SINGAPORE
Robert Hecker Managing Director 15 Scotts Road, #08-10/11, Thong Teck Building Singapore 228218 Tel: (65) 6735-1886 Fax: (65) 6737-9550 Email: singapore@horwathhtl.com!

CHINA | Shanghai
Zoe Wu Director Unit 1205A, 12/F, Financial Plaza, 333, Jiu Jiang Road, Huang Pu District, Shanghai, 200001, China Tel: (86-21) 6136-3248 Fax: (86-21) 6136-3245 Email: shanghai@horwathhtl.com!

JAPAN
Koji Takabayashi Managing Director 5/F Village Sasazuka III 1-30-3 Sasazuka Shibuya-ku Tokyo 151-0073, Japan Tel: (81) 3 5465-0295 Fax: (81) 3 5465-0296 Email: tokyo@horwathhtl.com!

CHINA | Hong Kong

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