Dusit Princess Srinakarin while the overseas hotels showed an increase of revenue as well as additional revenue recognition from Elite Havens which Company invested in late 2018 and also revenue from

policies of major countries and the Baht’s ongoing appreciation. However, the Thai economy has been supported by the expansion of private consumption, due to an increase in auto sales in the first half of

appreciation. Private consumption grew at a slower rate than in the first half of the year, especially spending on durable goods in line with a contraction in domestic vehicle sales. In response, the government

is attributed to the appreciation of the Thai Baht versus the US dollar.  Selling expenses Consolidated selling expenses for the year 2017 and 2016 amounting to THB 483 million and THB 458 million

exchange gain The Company recorded consolidated net gain on foreign exchange for the year 2017 amounting to THB 1,245 million (Separate: THB 826 million). The gain is attributed to the appreciation of the

exchange for the 3rd quarter of 2017 amounting to THB 268 million (Separate: THB 165 million). The gain is attributed to the appreciation of the Thai Baht versus the US dollar.  Selling expenses

result of (i) the THB appreciation against EUR (THB appreciated from 35.90 THB/EUR in 1Q 2019 to 34.49 THB/EUR in 1Q 2020) since the majority of the Company’s hotels earns their revenue in Euro and (ii

) increased 68 keys under AHS management contracts. The Average Daily Rate (ADR) decreased by THB 523 per night as a result of (i) the THB appreciation against EUR (THB appreciated from 35.70 THB/EUR in 2Q 2019

of last year. Revenue from sales of first half on 2018 decreased 0.25 percent due to the effect of Thai Baht appreciation even though sale volume and sale in CNF incoterm increased from first half on

from currencies appreciation as compared to same period of previous year. 3. Selling and Administrative Expenses For the second quarter of year 2018, the Company’s SG&A expenses was Bt. 1,074.65 million