Pandox Ab Class B · OMXSTO:PNDX_B
Pandox Ab Class B — Q4 2021 Earnings Presentation
29 slides from Pandox Ab Class B's earnings presentation, February 2022
Slide 1: European performance update – Feb 2022
European performance update – Feb 2022 Natalie Weisz – Director, R&D & Analysis, STR All information is provided “as is” and only as of the date referenced and may change. While the information is believed to be accurate, neither CoStar Group nor STR guarantees that it is free from error, omission o
Slide 2: Agenda
Agenda 1) Current status 2) Leisure Pent up of post travel? 3) Business Zoom or resume? 4) Sunny Skies Ahead Source: STR. 2021 © 2021 CoStar Group 2
Slide 3: 1) Current status
1) Current status Source: STR. 2021 © 2021 CoStar Group 3
Slide 4: Leisure travel has underpinned demand recovery to date
Leisure travel has underpinned demand recovery to date Rolling 7 days occupancy (Total Room Inventory) indexed to 2019 140 Mainland China Europe Middle East United States 120 100 80 60 40 20 0 Source: STR. © 2022 CoStar Group
Slide 5: Most European countries bouncing back from a December dip
Most European countries bouncing back from a December dip Rolling 7 days Occupancy (Total Room Inventory) indexed to 2019 Austria Belgium France Germany Ireland Italy Netherlands Poland Portugal Russia Spain United Kingdom 200 180 160 140 120 100 80 60 40 20 0 jan-21 feb-21 mar-21 apr-21 maj-21 jun-
Slide 6: 2021 ends with strong ADR recovery across most regions
2021 ends with strong ADR recovery across most regions ADR indexed to 2019, CC, USD, December 2021 Europe North America Mainland China 104 107 91 Middle East Northern Africa Central America Asia (excl. Mainland China) 132 87 104 129 Australia & Oceania 110 110 110 South America excl. Venezuela South
Slide 7: Middle East shows profit recovery beyond 2019 levels is real
Middle East shows profit recovery beyond 2019 levels is real Continents, 2021 GOPPAR indexed to 2019, 2021, USD, Constant Currency Source: STR. 2021 © 2021 CoStar Group 7
Slide 8: 2) Leisure Pent up or post travel?
2) Leisure Pent up or post travel? Source: STR. © 2021 CoStar Group 8
Slide 9: Staycation leisure markets mostly fully recovered in 2021…
Staycation leisure markets mostly fully recovered in 2021… Rolling 7 days occupancy (TRI) indexed to 2019, April 2021 – January 2022 Baltic Coast Channel Islands/Cornwall/Devon Italian Islands Marseille Area Nice Occitanie Sochi Tricity 160 140 120 100 80 60 40 20 0 apr-21 maj-21 jun-21 jul-21 aug-2
Slide 10: … but fly-to leisure struggled due to travel restrictions
… but fly-to leisure struggled due to travel restrictions Rolling 7 days occupancy (TRI) indexed to 2019, April 2021 – January 2022 Algarve Balearic Islands Canary Islands Turkish Riviera 160 140 120 100 80 60 40 20 0 apr-21 maj-21 jun-21 jul-21 aug-21 sep-21 okt-21 nov-21 dec-21 jan-22 Source: STR.
Slide 11: Recovery despite consumers being less likely to travel for leisure during COVID
Recovery despite consumers being ess likely to travel for leisure during COVID In the current COVID-19 situation, are you likely to travel for leisure/holidays more or less compared to before pandemic? Feb 2021 Jul 2021 Nov 2021 Domestic Domestic Domestic Net propensity Net propensity Net propensity
Slide 12: Consumers say they will travel much more for leisure post pandemic
Consumers say they will travel much more for leisure post pandemic Are you likely to travel for leisure/holidays more or less compared to before pandemic? Feb 2021 Jul 2021 Nov 2021 Domestic Domestic Domestic Net propensity Net propensity Net propensity 38% 24% 27% International International Intern
Slide 13: … and they have the ability because pent-up is not spent-up yet…
… and they have the ability because pent-up is not spent-up yet… World savings rates Source: STR. 2021 © CoStar Realty Information, Inc.
Slide 14: Staycation destinations will have a much stronger H1
Staycation destinations will have a much stronger H1 Cornwall and Devon, Occ on the books TY & STLY for the next 365 days as at 03 January 2022 35% 30% 25% 20% 15% 10% 5% 0% 2022-01-03 2022-02-03 2022-03-03 2022-04-03 2022-05-03 2022-06-03 2022-07-03 2022-08-03 2022-09-03 2022-10-03 2022-11-03 2022-
Slide 15: Fly to leisure destinations will have a much stronger summer
Fly to leisure destinations will have a much stronger summer Balearic Islands, Occ on the books TY & STLY for the next 365 days as at 03 January 2022 30% 25% 20% 15% 10% 5% 0% 2022-01-03 2022-02-03 2022-03-03 2022-04-03 2022-05-03 2022-06-03 2022-07-03 2022-08-03 2022-09-03 2022-10-03 2022-11-03 202
Slide 16: 3) Business Zoom or Resume?
3) Business Zoom or Resume? Source: STR. 2021 © 2021 CoStar Group 16
Slide 17: The outlook for business travel remains weaker than before the pandemic
The outlook for business travel remains weaker than before the pandemic Are you likely to travel more or less for business compared to before the pandemic? Feb 2021 Jul 2021 Nov 2021 CURRENT Business Travel Business Travel Now Now SITUATION Net propensity Net propensity -53% -56% WHEN Business Trave
Slide 18: Cities which rely on business travel have struggled to recovery
Cities which rely on business travel have struggled to recovery Occupancy actuals (TRI), Full Year 2021 58 Moscow 44 London 37 Vancouver 37 Toronto Paris 35 Berlin 30 Chicago Rome Beijing 47 23 Istanbul 53 Los Angeles 47 New York Madrid 35 50 61 Tokyo 46 Washington D.C. 37 New Delhi 60 23 48 Shangha
Slide 19: Weekday demand was already 92% recovered in Q4 2022
Weekday demand was already 92% recovered in Q4 2022 U.S. room demand, indexed to 2019 (matched by day type) Source: STR. © 2021 CoStar Group 19
Slide 20: In Europe pre-Omicron, Weekday Occ was back at 70-80% of 2019
In Europe pre-Omicron, Weekday Occ was back at 70-80% of 2019 Weekday occupancy (TRI) indexed to 2019 29 Aug – 07 Nov 2021 100 29-Aug 05-Sep 12-Sep 19-Sep 26-Sep 03-Oct 10-Oct 17-Oct 24-Oct 31-Oct 07-Nov 90 80 70 60 50 40 30 20 10 0 Amsterdam Brussels London Madrid Paris Source: STR. © 2021 CoStar G
Slide 21: and weekday rates recovering too at 80-100%+ of 2019 levels
and weekday rates recovering too at 80-100%+ of 2019 levels Weekday ADR (local currency) indexed to 2019, 29 Aug – 07 Nov 2021 140 29-Aug 05-Sep 12-Sep 19-Sep 26-Sep 03-Oct 10-Oct 17-Oct 24-Oct 31-Oct 07-Nov 120 100 80 60 40 20 0 Amsterdam Brussels London Madrid Paris Source: STR. © 2021 CoStar Grou
Slide 22: 5) Sunny skies ahead
5) Sunny skies ahead Source: STR. © 2021 CoStar Group 22
Slide 23: Hotel demand is highly correlated to economic activity
100 110 120 130 140 150 90 Q1-00 Q3-00 Q1-01 Q3-01 Q1-02 Q3-02 Q1-03 Q3-03 Q1-04 Q3-04 Q1-05 Q3-05 Q1-06 Q3-06 Q1-07 Q3-07 Q1-08 Q3-08 Demand Q1-09 Q3-09 Q1-10 Q3-10 Q1-11 Q3-11 Real GDP indexed Q1-12 Q3-12 UK Real GDP and UK total hotel demand (room nights), 2000 - 2021 Q1-13 Q3-13 Q1-14 Q3-14 Hote
Slide 24: Not gone forever
100 120 140 160 60 80 40 Q1-00 Q3-00 Q1-01 Q3-01 Q1-02 Q3-02 Q1-03 Q3-03 Q1-04 Q3-04 Q1-05 Q3-05 Q1-06 Q3-06 Q1-07 Q3-07 Q1-08 Q3-08 Q1-09 Q3-09 Demand Encouraging signs for GDP recovery Q1-10 Q3-10 Q1-11 Q3-11 Q1-12 Q3-12 Real GDP indexed Q1-13 Q3-13 UK Real GDP and UK total hotel demand (room nigh
Slide 25: In the US, Group demand is over 70% recovered despite pandemic
In the US, Group demand is over 70% recovered despite pandemic U.S. group demand, indexed to 2019 (luxury & upper upscale classes only) Source: STR. © 2021 CoStar Group 25
Slide 26: Looking forward, demand is out there for events
Looking forward, demand is out there for events Occupancy on the books (TRI) for the next 365 days, as of January 3rd Amsterdam Brussels Edinburgh London Paris Moscow 100% 90% 80% Edinburgh: 70% Six nations Rugby Edinburgh Fringe Festival 60% 50% IBC 2022 40% 30% 20% 10% 0% jan-22 feb-22 mar-22 apr-
Slide 27: US recovers in 2022, remaining regions 90% recovered by end of year
US recovers in 2022, remaining regions 90% recovered by end of year Forecast RevPAR performance indexed to 2019, TRI European Cities APAC Cities UAE Cities US 160% 140% 120% 100% 80% 60% 40% 20% 0% 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q
Slide 28: Key takeaways
Key takeaways 1 Demand has and will continue to recover … and grow past 2019 levels 2 Pent-up is not spent-up and will enable ADR growth … inflation will challenge profitability 3 If we finally reach escape velocity from COVID … 2022 will be a very strong year across the globe Source: STR. © 2021 Co
Slide 29: Thank you
Thank you Natalie Weisz Director, R&D and Analysis, STR Source: 2021 STR, LLC / STR Global, Ltd. trading as "STR". © CoStar Realty Information, Inc. Any reprint, use or republication of all or a part of this presentation without the prior written approval of STR is strictly prohibited. Any such repr