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L I V I N G S E A M L E S S
Mrs.Kamonwan Wipulakorn Chairman Of Board Of Director, One Origin Co., Ltd.
SOURCE : MINISTRY OF TOURISM AND SPORT
INTERNATIONAL TOURIST ARRIVAL
60.0
50.0
40.0
30.0
20.0
10.0
-
milli
on
24.8 29.8 32.5 35.3 38.2 39.8 41.0
2014 2015 2016 2017 2018 2019 2020F
CO
UP
D’ET
AT
KIN
G R
AMA
IX’S
PAS
SIN
G
PHU
KET
BOAT
CAP
SIZE
TRAD
E W
AR, T
HAI
BAH
T AP
PREC
IATI
ON
-6.5%
+20.4%
+8.9% +8.5% +7.5%+4.2%
NUMBER OF INTERNATIONAL TOURIST (PERSON) % CHANGE ( Y-0-Y )
5-YEARSCAGR5.9%
FOREIGN
SOURCE : MINISTRY OF TOURISM AND TRAVEL
TOP 5 VISITOR BY COUNTRY
4.2%CHANGE
Y-0-Y39.79
MILLION VISITORS
3.0%CHANGE
Y-0-Y1.9
TRILLION BAHT
COUNTRY
CHINA
MALAYSIA
INDIA
KOREA
LAOS
VISITOR(MILLION PERSON)
CHANGEY-O-Y
+4.3%
+24.8%
+5.1%
+10.8%
+3.6%
10.9
4.1
1.9
1.8
1.8
TOP 5 REVENUE BY COUNTRY
COUNTRY
CHINA
MALAYSIA
RUSSIA
JAPAN
INDIA
REVENUE(MILLION BATH)
543,707
106,728
103,784
89,807
86,372
CHANGEY-O-Y
+11.4.8%
+27.4%
-1.2%
+3.1%
+4.7%
COUNTRY
BANGKOK
CHIANG MAI
PHUKET
REVENUE(MILLION BATH)
CHANGEY-O-Y
24,058
9,486
6,216 -2.3%
+1.6%
-4.3%
0.06%CHANGE
Y-0-Y166.8
MILLION VISITORS
1.1%CHANGE
Y-0-Y1.1
TRILLION BAHT
DOMESTIC
SOURCE : MINISTRY OF TOURISM AND TRAVAL
TOP 3 REVENUE BY PROVINCE
INTERNATIONAL MICE VISITOR
SOURCE : MICE Intelligence Center
NUMBER OF VISITORS
0.5M2006 2008 2010 2012 2014 2016 2018 2020 2022 2024
1.0M
1.5M
2.0M
2.5M
0.74M
0.82M
0.68M0.90M
1.01M
0.92M
1.27M
1.27M
2.00M
REVENUE GENERATED ( MB )
50K2006 2008 2010 2012 2014 2016 2018 2020 2022 2024
100K
150K
59,73561,570
79,77088,485
102,936
137,225
93,970
DOMESTIC MICE VISITOR
SOURCE : MICE Intelligence Center
NUMBER OF VISITORS
10M2014 2015 2016 2017 2018 2019 2020 2021 2022
20M
30M
40M
50M
23.70M
14.51M
28.85M
35.32M 33.44M
29.61M
REVENUE GENERATED ( MB )
0K
50K
100K
150K
200K
31.494.00
46,401.0073,322.00
91,010.00114,376.00
107,046.00
2014 2015 2016 2017 2018 2019 2020 2021 2022
FDI INVESTMENT
NORTH EAST OTHER WEST SOUTH NORTH EAST CENTRAL
2016 2017 2018 (JAN-SEP) 2019 (JAN-SEP)2015
600,000
500,000
400,000
300,000
200,000
100,000
0
38%
Million Baht
47%
56%
30%
52%
33% 44%
43%
56%
34%
SOURCE : BOI
Top 5 Source of Investment
Japan 59,187 M.China 45,439 M.Switzerland 11,710 M.Taiwan 9,660 M.Singapore 9,304 M.
THAILAND HOTEL OCCUPANCY RATE
2017 2018 2019
68.8%71.1% 71.3%
SOURCE : BANK OF THAILAND
SOURCE : JLL Thailand
UPSCALE AND UPPER UPSCALE HOTEL PERFORMANCEIN BANGKOK
2,000
2,500
3,000
3,500
4,000
1.500
1,000
500
0
40%50%60%70%80%90%100%
30%20%10%0%
ADR REVPAR OCCUPANCY RATE
pric
e ( b
aht )
2012 - 1H 2019
occu
panc
y rat
e (%
)
2012 2013 2014 2015 2016 2017 2018 1H 2019
ADR3,447
OCC81.4%
REVPAR2,807
1H 2019
JOINTVENTURE
HOTELOPERATOR
TENANTPARTNERSHIP
PROPERTY LEASINGAND MANAGEMENT
TO INCREASE BUSINESS AGILITY
SYNERGY
BUSINESS MODELSTRATEGIC DIVERSION
Mr. Chanchai PhansophaDirector/Executive Director of One Origin Co., Ltd.
SOURCE : CBRE Thailand
BANGKOK OFFICE SUPPLY,DEMAND AND OCCUPANCY RATE
1M
2M
0
4M
5M
3M
6M
7M
9M
10M
11M
SQ.M.
8M
5%
10%
0%
20%
25%
15%
30%
35%
45%
50%
Vacancy Rate
40%
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
F
2020
F
2021
F
2022
F
2023
F
Total Supply Total Take-up Vacancy Rate
400
500
300
700
800
900
1,000
1,100
THB / sq.m.
600
2010
2011
2012
2013
2014
2015
2016
2017
2018
Q1
2019
Q2
2019
Q3
2019
1,057
876
790720
CBD Grande A CBD Grande B NON-CBD Grande A NON-CBD Grande B
8.34 MSQ.M.
DEMAND
1,057 THBPER SQ.M.
GRADE ACBD RENT
93.0%
OVERALLOCCUPANCY
2.2% 4.8%
BANGKOK OFFICE OCCUPANCY RATE( ALONG MASS TRANSIT )
NATIONAL STADIUMRATCHADAMRI
SALA DAENG
CHONG NONSI
SURASAK
SAPHAN TAKSIN
KRUNG THONBURI
WONGWIAN YAIPHO NIMITTALAT PHLUWUTTHAKAT
BANG WA
SAM YOT
ITSARAPHAP
SANAM CHAI
PHAHON YOTHIN
LAT PHRAO
CHATUCHAK PARKRATCHADAPHISEK
KHLONGTOEILUMPHINISI LOM
SAM YANHUALAMPHONG
WAT MANGKON
SUTHISAN
HUAI KHWANG
THAILAND CULTURAL CENTRE
PHRA RAM 9
PHETCHABURI
QUEEN SIRIKITNATIONALCONVENTIONCENTRE
THA PHRABANG PHAI
BANG WA
KASETSART UNIVERSITY
SENA NIKHOM
RATCHAYOTHIN
PHAHON YOTHIN 24
HA YAEK LAT PHRAO
SAPHAN KHWAI
ARI
SANAM PAO
VICTORY MONUMENT
PHAYA THAI
CHIT LOM NANA
ASOK PHROM PHONG
THONG LO
EKKAMAI
PHRA KHANONG
ON NUT
BANG CHAK
PUNNAWITHI
UDOM SUK
BANG NA
BEARING
SAMRONG
PU CHAO
MO CHIT
PAHONYOTHIN – VIBHAVADI91.4
RAMA 9 - RAMKHAMHAENG90.3
ASOKE - PHETCHBURI93.8
BANGNA92.1
ASOKE-PHROMPHONG96.8
SILOM-SATHORN93.0
PLOENCHIT-CHIDLOM95.7
WIRELESS91.3
TAO POON
BANG SUE
KAMPHAENGPHET
RATCHATHEWI
SIAM
SUKHUMVIT
PHLOEN CHIT
BANGKOK RETAIL SUPPLY,TAKE-UP AND OCCUPANCY RATE
1M
2M
0
4M
5M
3M
6M
7M
9M
Net A
rea
(sq.
m.)
8M
88%
90%
86%
94%
96%
92%
98%
100%
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Q1
2019
Q2
2019
Q3
2019
Total Supply Total Take-up Occupancy Rate
SOURCE : CBRE Thailand, Colliers Thailand
92%
94%
90%
98%
100%
96%
1Q 2
013
3Q 2
013
1Q 2
014
3Q 2
014
1Q 2
015
3Q 2
015
1Q 2
016
3Q 2
016
1Q 2
017
3Q 2
017
1Q 2
018
3Q 2
018
1Q 2
019
3Q 2
019
CBD Outer CBD Suburban Bangkok
Occ
upan
cy R
ate
OCCUPANCY RATE BY LOCATION
PEOPLE LOCATION
CUSTOMERINSIGHT
PRODUCTDESIGN
GROWTH STRATEGY
OPENPLATFORM
OPENPLATFORM
MEGA FOOD CHAIN
HYPERMART
CO-WORKINGSPACE
OUTLET
LOGISTIC
PARTNERSHIP STRATEGY
Mr. Pitipong TrinurakChief Executive Officer of One Origin Co., Ltd.
ACCOMMODATIONHOTEL & SERVICED APARTMENT
OFFICE & RETAILOFFICE & RETAIL
LOGISTICS & WAREHOUSEWAREHOUSE
FUTURE PLAN
OVERVIEW & PIPELINE 2020-2023F
GRAND OPENING YEAR
~830 KEYS
~830 KEYS ~410 KEYS ~1,050 KEYS ~1,130 KEYS
~1,240 KEYS ~ 2,290 KEYS
BUDGET HOTEL(TENTATIVE) CHONBURI
SIRACHABANGKOKTHONGLOR
~3,420 KEYS
RAMINTRA(FUTURE PROJECT)
RAYONG MAPTAPHUTPHAYATHAI
BANGKOK PHAYATHAI
BANGKOKSUKHUMVIT
24
BANGKOK SUKHUMVIT PHROMPHONG
NEWJOINT VENTURE
NEWJOINT VENTURE
NEWJOINT VENTURE
ACCUMULATENUMBER OF KEYS
NUMBER OF KEYS / YEAR
RETAIL & OFFICE : ~16,000 SQ.M. (NSA)
2020 2021 2022 2023
BUDGET HOTEL(TENTATIVE)
BUDGET HOTEL(TENTATIVE)
RAYONG MAPTAPHUT
PROJECT LOCATIONS
BANGKOK EEC
TOTAL REVENUE BREAKDOWN( 2020-2025F )
Hotel Operation Mgt Fee-ConstuctionMgt Fee-Operation Other Income
Y2020 Y2021 Y2022 Y2023 Y2024 Y2025
500
1,000
1,500
2,000
2,500
3,000
3,500
7020
10 300
5020
1050
1010
450700
9001,000
1,100
60
10 10
200370
580780 850 930
110 140160
Y2020 Y2021 Y2022 Y2023 Y2024 Y2025
500
1,000
1,500
2,000
2,500
3,000
3,500
7020
10
5020
1050
1010
10
520
220
700
250
1,550
850
1,700
2,600
10
1,900
2,900
3,200
2,100
200370
580
110
780
140
850
160
930
TOTAL REVENUE BREAKDOWN & JV REVENUE( 2020-2025F )
Hotel Operation Mgt Fee-ConstuctionMgt Fee-Operation Other IncomeJV Project (100%)
Net Profit 30 MB 50 MB 120 MB 300 MB 420 MB 500 MB
ROE as of Year 2025 = 15-16% (Max. Equity = 3,200 MB)
REVENUE BY SEGMENT 2025F
HOTEL RETAIL & OFFICE BG HOTEL
85%
10%
5%
93,000 SQ.M.
16,000 SQ.M.
13,000 SQ.M.
EQUITY (YEARLY) EQUITY (ACCUMULATE)
Y2020
320
1,920
2,6503,200
Y2021
730
Y2022
550
ESTIMATE EQUITY I ONEUnit : MB
ESTIMATE IBD/E I ORI
FORECAST
1.42 1.51 1.531.25 1.11 0.96
0.50
1.00
1.50
2.00
2.50
Y2022(F) Y2023(F)Y2021(F)Y2020(F)Y2019(F)Y2018(A)
Unit : Time
EQUITY PLAN( 2020-2022F )
Total Investment = 12,000 MBAccumulated Equity & Shareholders loan as of 2019 = 1,600 MBAccumulate Equity as of 2022 = 3,200 MB
REIT CONTRIBUTION
GRAND OPENING • Staybridge Bangkok Thonglor 303 Rooms• Holiday Inn & Suites Siracha Laemchabang 347 Rooms
REIT Value ~ 5,000 MBNet Profit ~ 1,250 MB
2020 2021-2022F
Ms. Aliwassa PathnadabutrManaging Director of CBRE Thailand Co., Ltd.
GLOBAL TRENDS
IN DEVELOPING
COMMERCIAL SPACE
29 FEBRUARY 2020
TECH DISRUPTION
ONE ORIGIN PRESS CONFERENCE | 29 JANUARY 2020CBRE
MIXED-USE DEVELOPMENT TRENDS
ONE ORIGIN PRESS CONFERENCE | 29 JANUARY 2020CBRE
▪ DISCOVER
▪ LEARN
▪ PLAY
▪ WORK
▪ SHARE
▪ SHOP
▪ LIVE
▪ HEALTH
▪ GREEN
Photos: CapitaLand, Booking.com, Timeout, The Business Times
FUNAN DIGITALIFE MALL (SINGAPORE)
▪ 82,500 SQ.M. GFA
▪ RETAIL + OFFICE +
SERVICED RESIDENCE
▪ URBAN FARM
▪ INDOOR CYCLING PATH
▪ TECH, CRAFT, PLAY, FIT,
CHIC, AND TASTE
ONE ORIGIN PRESS CONFERENCE | 29 JANUARY 2020CBRE
HOTELISATION
▪ HOTEL-LIKE QUALITY
OF SERVICE
▪ HOTEL-LIKE AMENITIES
▪ Office – Meeting Room,
Catering, Wellness
▪ Retail – Valet Parking,
Pickup Instore, Return
Service, Drive-through
ONE ORIGIN PRESS CONFERENCE | 29 JANUARY 2020CBRE
Source | CBRE Research
FLEXIBLE WORKPLACE
▪ LEASE TERM
▪ CO-WORKING SPACE
▪ WORKPLACE STRATEGY
▪ Host
▪ WORK HOUR
ONE ORIGIN PRESS CONFERENCE | 29 JANUARY 2020CBRE
Source | CBRE Research
TECHNOLOGY FOR ENGAGEMENT
ONE ORIGIN PRESS CONFERENCE | 29 JANUARY 2020CBRE
PARTNERSHIP MODEL
▪ JOINT VENTURES
ONE ORIGIN PRESS CONFERENCE | 29 JANUARY 2020CBRE
Source | CBRE Research
0
10
20
30
40
50
2013 2014 2015 2016 2017 2018 2019
Projects
Condominium Housing OfficeMixed-use Serviced Apartment RetailIndustrial Hotel
Japanese
83%
Singaporean5%
Hong Kong
6%
American6%
Source | CBRE Research
PARTNERSHIP MODEL
▪ OPEN DEVELOPMENT PLATFORM
▪ LANDLORD AND TENANT
COLLABORATION
▪ Office – Talent (Service On
Demand)
▪ Retail – Traffic (Experience)
▪ BRAND COLLABORATION
ONE ORIGIN PRESS CONFERENCE | 29 JANUARY 2020CBRE
Source | CBRE Research
THANK YOU