accommodate the investment and tourism growth in the Eastern Economic Corridor. In 2019, the Company opened 9 hotels in the Philippines, Qatar, United Arab Emirates, China and Thailand, totaling 37 hotels

Company had total revenues from sales in the amount of Baht 227.23 million, which decreased by Baht 7.16 million or 3.05% when compared with the same period in 2016. The decrease in the revenue from sales

below: Revenue from Sales In 2Q19, the Company’s total revenue from sales was Baht 210.14 million, which decreased by Baht 53.33 million or 20.24% when compared with the same period in 2018. Such decrease

2Q18, the Company had total revenues from sales in the amount of Baht 263.47 million, which increased by Baht 36.24 million or 15.95% when compared with the same period in 2017. The increase in the

total price of Baht 270,000,000, to the subscription of newly issued shares of Hero Experience for 939,474 shares, or 35 percent of registered capital of the company, for the total price of Baht

December 2019 To: Managing Director of the Stock Exchange of Thailand Business Overview In 2019, the impact of trade war between the United States and China, together with the global economic slowdown caused

businesses. Hospitality Business At the end of 1Q19, the Company’s total hotels reached 37 hotels with 4,271 keys covering 5 countries – Thai, Maldives, Mauritius, Fiji, and United Kingdom. Hospitality

based on a total value of consideration paid basis, calculated from the audited consolidated financial statements of the Company for the year ended 31 December 2017. In the previous 6- month period, the

that may be materially misleading. 2. The Company’s indebtedness 2.1 The total amount of issued and unissued debt instruments resolved by the shareholders’ meeting with authorisation to the Board of

1 of 9 Management’s Discussion and Analysis for the performance of the year 2019 Business Overview For the ended of the year 2019, S Hotels and Resorts Public Company Limited (“the Company”) had total