CENTRAL PLAZA HOTEL PUBLIC COMPANY LIMITED
ANNUAL REPORT 2008
THAILAND TOURISM AWARD 2008 by Tourism Authority of Thailand Sofitel Centara Grand Resort & Villas Hua Hin
SMART TRAVEL ASIA BEST IN TRAVEL POLL 2008 Sofitel Centara Grand Resort & Villas Hua Hin
GREEN GLOBE STANDARD by Green Globe Asia Pacific Bangkok Convention Centre at CentralWorld
SMOKE FREE HOTEL CERTIFICATE by Green Leaf Foundation Centara Hotels & Resorts
TOTAL ENERGY MANAGEMENT FOR HOTEL AWARD (TEM) by Energy Planning and Policy Office, Ministry of Energy and Energy Research Institute of Chulalongkorn University Sofitel Centara Grand Bangkok
SOUTH EAST ASIA DEAL AWARDS by Alpha Southeast Asia Centara Hotels & Resorts Property Fund (CTARAF)
TTG TRAVEL AWARDS 2008 by TTG Asia Media Centara Hotels & Resorts
THAILAND TOURISM STANDARD Sofitel Centara Grand Bangkok Sofitel Centara Grand Resort & Villas Hua Hin l Centara Grand Beach Resort & Villas Krabi l Centara Grand Beach Resort Samui l Centara Karon Resort Phuket l Centara Kata Resort Phuket l Novotel Centara Hat Yai l l
THAILANDÂ’S BEST RESTAURANT 2008 by Thailand Tatler Magazine Palm Seafood Pavilion Sofitel Centara Grand Resort & Villas Hua Hin
Contents
Financial Highlights
4-5
Message from The Chairman
6
Message from The Chairman of Executive Board
7
Board of Directors
8-9
Group History
10-11
Overview Hotels & Resorts
12-15
Group Business Development, Group Marketing Human Resources, Corporate Citizenship
15-17
Overview of Food Services Division
18-20
Audit Committee s Report
21-22
Report of The Board of Directors Responsibilities for Financial Statements
23
2008 Audit Report and Financial Statements
24-64
Analysis and Explanation of the Financial Status and Operating Results
65-72
Nature of Business
73
Revenue Structure
74
Future Projects
75
Risks Factors
76-78
Policy on Corporate governance
79-84
List of Major Shareholders
85
Directors and Management Remuneration
86
Auditor s Fee
87
Corporate Governance Connected Transactions General Information of Business Held by the Company 10% Upward
88-91 92-101 102-103
Company s General Information
104
Information of Debentures
105
Other Reference Firms
106
Corporate Management
107
!
Financial Highlights TOTAL CONSOLIDATED REVENUE
NET PROFIT AFTER TAX (BAHT MILLIONS)
(BAHT MILLIONS)
8,500 8,000
8,223
550
7,500
536.0
500
7,182
6,849
7,000 6,500
541.1
450 6,239
6,000 5,500
417.2
400
5,500
397.9
350
323.8
300 250 200 150 100 50 0
EARNINGS PER SHARE
2004 2006 2007 2008 2005 2006: Including gain on sale of floating hotel of 107.4 million
HOTEL AND FOOD REVENUE
(BAHT)
(BAHT MILLIONS)
5,000 4,500
4,701
0.70 0.60
4,295
4,150
4,000
2007 2004 2006 2008 2005 2006: Gain on sale of floating hotel 107.4 million 2008: Various extra-ordinary loss totalling 110.3 million*
0.60
0.60
0.50
3,864
3,522
3,500
0.40
0.38
3,200 3,000
2,699
2,500
0.24
0.20
2,375
2,300
0.29
0.30
2,887
2,000
0.10
1,500
0
2004
1,000
2006
2007
2008
SHAREHOLDERS EQUITY
500
(BAHT BILLIONS)
0
2004
2005
2006
Hotel Revenue
2007
2008
18
Food Revenue
6.0
TOTAL CONSOLIDATED ASSETS
5.5
17.7
(BAHT BILLIONS)
5.0
17
3.5
13
11.8
12 11 9
2004
2005
2.0 1.5
6.3
1.0
0.5
4 3
0
2
1 0
3.5
2.5
8.0
8
3.4
3.0
9.9
10
6 5
4.3
4.0
14
7
4.4
4.5
16 15
6.4
6.5
2006: Including gain on sale of floating hotel of 107.4 million
4
2005
EPS of year 2004 - 2005 are calculated using 900 million shares (equivalent to Baht 1 per share) for comparative to year 2006 - 2008.
2004
2005
2006
2007
2008
*
2006
2007
2008
⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ☺ ⌧ ⌧ ☺
⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧
⌧
Board of Directors
From left
Mr. Sudhitham Chirathivat Mr. Sudhisak Chirathivat Mr. Suthichart Chirathivat Mr. Prin Chirathivat
8
Executive Director Executive Director Executive Director Executive Director
Mr. Viroj Lowhaphandu Mr. Suthikiati Chirathivat Mr. Suthichai Chirathivat Mr. Vanchai Chirathivat
Director Chairman of the Executive Board Vice Chairman and Executive Director Chairman
Mr. Gerd K. Steeb Mr. Vichien Tejapaibul Khunying Suchitra Mongkolkiti Mr. Suthiporn Chirathivat Mr. Chanvitaya Suvarnapunya
President and Director Independent Director Director Director Independent Director and member of Audit Committee
Mrs. La-aid Vongvongepop Mr. Kanchit Bunajinda Mr. Bhisit Kuslasayanon Dr. Ronnachit Mahattanapreut
Independent Director and Chairman of Audit Committee Director Independent Director and member of Audit Committee Secretary
9
⌧ ⌧ ⌧
⌧ ⌧ ☺ ☺ ☺ ⌧ ☺
⌧ ⌧ ⌧ ⌧ ⌧ ⌧
☺ ☺
⌧ ⌧ ⌧
⌧
⌧
⌧
⌧ ⌧ ☺ ⌧ ⌧ ⌧
⌧ ⌧ ⌧
⌧ ⌧
⌧ ⌧ ⌧ ☺ ⌧ z
z
z
z
z
z
⌧ ⌧ ⌧ ⌧ ☺ ⌧
☺ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ’
⌧
☺ ☺ ☺
⌧
⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ☺ ⌧ ⌧
⌧ ⌧ ⌧
⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
☺ ⌧ ⌧ ☺ ⌧
☺ ☺
⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧
⌧ ☺
☺ ⌧ ☺ ⌧ ⌧ ⌧
⌧
⌧ ⌧
⌧ ⌧ ⌧ ☺ ☺ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ☺ ☺ ☺ ☺ ⌧ ⌧ ⌧
⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ☺ ☺ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ☺
⌧
⌧ ⌧ ⌧
☺
☺
⌧
⌧
⌧ ⌧ ☺ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧
⌧
⌧ ☺ ☺ ⌧ ☺
☺ ⌧ ⌧ ⌧ ☺ ☺ ⌧
⌧ ⌧ ⌧
☺
☺
☺
☺ ☺
⌧
☺ ☺
☺ ☺
⌧
☺ ☺
☺ ☺
⌧
⌧ ⌧
⌧ ⌧ ⌧
☺
☺
☺
⌧ ☺ ☺ ⌧
⌧
☺ ☺
⌧
⌧ ⌧
⌧
⌧
⌧
☺ ⌧ ☺ ⌧ ☺ ⌧
☺
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ☺ ☺ ⌧ ☺ ☺ ⌧
⌧ ⌧
☺ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧
☺
☺ ⌧ ⌧ ⌧ ⌧ ⌧ ☺
⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧
⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧
⌧ ☺
⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ☺
☺
☺ ⌧ ⌧
☺ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧
⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧
⌧
⌧
⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧
z ⌧ z z z ⌧ ⌧
z
⌧
z
⌧ ⌧
z
⌧ z
⌧ ⌧ ⌧ ⌧ ⌧
⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ z
z
z
z
z
⌧
⌧
z
z z
z
z
⌧ ⌧ ⌧
⌧
z z z
⌧ ⌧
⌧
⌧
⌧
⌧
⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
☺
⌧
⌧
☺
⌧
⌧
☺
⌧
☺
⌧
☺
⌧
⌧
⌧ ⌧
⌧
☺
☺
⌧
☺
☺
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧ ⌧
☺
⌧ ⌧
⌧
⌧
z
z
z
⌧
⌧ ⌧
⌧
⌧ ⌧
☺ ☺ ☺ ⌧ ☺ ⌧ ⌧
⌧
Centara Hotels & Resorts
Centara Duangtawan Hotel Chiang Mai
Centara Mae Sot Hill Resort
Sofitel Centara Grand Bangkok Centara Grand & Bangkok Convention Centre
at CentralWorld Centara Grand Mirage Beach Resort Pattaya
Centara Chaan Talay Resort & Villas Trat
Sofitel Centara Grand Resort & Villas Hua Hin
Centara Grand Beach Resort Samui Centara Villas Samui
Centara Villas Phuket Centara Karon Resort Phuket Centara Kata Resort Phuket Centara Grand Beach Resort Phuket (2010)
New Project
Centara Grand Beach Resort & Villas Krabi Novotel Centara Hat Yai
Centara Hotels & Resorts l
Centara Grand & Bangkok Covention Centre at CentralWorld
l
Sofitel Centara Grand Bangkok
l
Centara Grand Beach Resort & Villas Krabi
l
Centara Grand Beach Resort Samui
l
Sofitel Centara Grand Resort & Villas Hua Hin
l
Centara Grand Silapura Beach Resort & Villas Hua Hin (2010)
l
Centara Grand Mirage Beach Resort Pattaya
l
Centara Grand Beach Resort Phuket (2010)
l
Centara Grand Island Resort & Spa Maldives
l
Centara Villas Samui
l
Centara Villas Phuket
l
Centara Karon Resort Phuket
l
Centara Kata Resort Phuket
l
Centara Mae Sot Hill Resort
l
Centara Chaan Talay Resort & Villas Trat
l
Novotel Centara Hat Yai
l
Centara Duangtawan Hotel Chiang Mai
Reservations please call T +66 (0)2 101 1234 F +66 (0)2 101 1235 E reservations@chr.co.th
www.centarahotelsresorts.com H OT E L S & R E S O RT S
CENTRAL RESTAURANTS GROUP CO., LTD. 306 Central Silom Department Store Building, 5JD JD 7JD 8JD Floor, Soi Silom 30, Silom Road Suriwongse, Bangrak, Bangkok 10500 Telephone +66 (0) 2635 7930 Facsimile +66 (0) 2635 7940 ,
6
,
,
Simply Thai Absolutely Different
CENTRAL PLAZA HOTEL PUBLIC COMPANY LIMITED
Head Office: 1695 Phaholyothin Road, Chatuchak, Bangkok 10900, Thailand T +66 (0)2 541 1234 F +66 (0)2 541 1087 E centel@chr.co.th Branch: 999/99 Rama I Road, Pathumwan, Bangkok 10330, Thailand T +66 (0)2 769 1234 F +66 (0)2 769 1235 E centel@chr.co.th
www.centarahotelsresorts.com