Management’s Discussion and Analysis (MD&A) Page 3 of 15 Diversification into Mixed-use Development Projects In 1Q20, two new residential projects; ESCENT TOWN PHITSANULOK and NINYA KALLAPAPRUEK are launched as
PHITSANULOK and NINYA KALLAPAPRUEK, located at BKK, were received a good feedback in terms of continuity of project transferred. The Company launched 2 new residential projects in 1Q20 as planned. The projects
, Phuket, Samut Sakhon, Nakhon Pathom, Khon Kaen, Rayong, Phitsanulok and Lampang. The branches of the Mikka Café franchise grew as expected, where the Company has focused mainly on branch expansion through
branch, Suvarnabhumi Airport branch, Central Phitsanulok branch and Central Khon Kaen branch. In 2023, the Company aims to expand 5 branches of Dessert café in both Bangkok and other provinces. Expanding
CentralPlaza Phitsanulok. • Solid growth from shopping malls with partial renovation, namely CentralPlaza Chaengwattana and CentralPlaza Bangna. Malls under major renovation include CentralWorld and CentralPlaza
CentralPlaza Rama 3 • Strong performances of existing food courts both in BMA and provinces, such as CentralPlaza Salaya, CentralPlaza Rayong, CentralPlaza Ubonratchathani, CentralPlaza Phitsanulok, and
Phitsanulok. Central Pattana Public Company Limited Management’s Discussion and Analysis (MD&A) Page 7 of 14 Revenue from hotel operations CPN adopted a new hotel revenue and cost recognition from 2019 onwards
, CentralPlaza Khonkaen, CentralPlaza Nakhon Si Thammarat and CentralPlaza Phitsanulok. Revenue from hotel operations CPN adopted a new hotel revenue and cost recognition from 2019 onwards in which net revenue
, CentralPlaza Rayong, CentralPlaza Khonkaen and CentralPlaza Phitsanulok. Revenue from hotel operations The Company adopted a new hotel revenue and cost recognition from 2019 onwards in which net revenue from