2,575.7 100.0% 3,818.1 100.0% 985.0 100.0% 1,178.4 100.0% Room revenue The room revenue increased by 43.1% from the year 2018 to THB 2,197.1 million for the year 2019, primarily as a result of realization

businesses. Revenue from hotel operations was THB 240 mn, grew 6% YoY, driven mainly by higher average occupancy rate and room rate of both Hilton Pattaya Hotel and Centara Udonthani Hotel. The average

rate at 97%, as well as from Centara Udonthani Hotel, which had an average occupancy rate of 78%, and higher average room rate. Central Pattana Public Company Limited Management’s Discussion and Analysis

(“arcona Hotel Portfolio”) which incorporates the operating leases of 17 existing hotels (1,792 room keys) and operating lease of 2 new hotels which expect to start operations in 2020 and 2022 (251 room keys

(total of 1,609 room keys). 1 August 2019 VHG II received the transfer of ordinary shares in 2 companies in Germany and obtained the right to manage 2 hotels in operation namely Vienna House Easy Mo

target group of customers can maintain their purchasing power. For recurring income business, in November 2019, the Company kicked off the construction of “Hotel Kitch”, a 72-room hotel that will be

) the reduction of room rates to drive occupancy during the non-peak season. The overall occupancy rate decreased by 11% from 1Q 2019, mainly due to COVID-19 situation. 53 hotels out of 57 hotels in the

Analysis S Hotels and Resorts Public Company Limited S Hotels & Resorts, A Singha Estate Company | www.shotelsresorts.com Page 4 of 8 Room revenue The room revenue for the six months ended of year 2020 in an

to 34.82 THB/EUR in 2Q 2020) since the majority of the Company’s hotels earns their revenue in Euro and (ii) the reduction of room rates to drive occupancy during the COVID-19 situation. The overall

%) Outrigger Hotels 633.0 65.0% 524.3 43.5% (17.2%) Project CROSSROADS Phase 1 Hotels - - 358.3 31.3% - Total revenue from services 973.8 100.0% 1,144.9 100.0% 17.6% Room revenue The room revenue increased by