project to a related company. In December 2018, the Company has entered into agreements to manage 4 additional hotels including dusitD2 Ao Nang, Krabi (Thailand), dusitD2 Yarkay Thimphu (Bhutan), dusitD2
hotels i.e., Dusit Suites Ratchadamri Hotel Bangkok, Dusit Thani Pattaya, and Dusit Thani Hua Hin. Later in July, hotels under hotel management agreements gradually re-opened i.e., dusitD2 Khao Yai
party has postponed the transaction; therefore, this transaction has not been completed. In March 2020, the Company opened a new hotel “dusitD2 Salwa Doha” in Qatar (233 rooms). From 1 January 2020, the
training with dusitD2 The Fort Manila hotel. For the hotel business, while the Company still plans to open new hotels as planned, hospitality industry in Thailand may remain under pressure due to US-China
with estimated 8-10% growth of core revenue. • Plans to open 11 new hotels: In 1Q19, the Company opened 2 new hotels in the Philippines (Dusit Thani Mactan Cebu and dusitD2 Davao). Later in April, the