The LHHOTEL Trust has announced the final offering price for capital increase units at 10 Baht per unit, following enthusiastic responses from existing unitholders/1, reflecting confidence in the potential and investment plans for new assets. The public subscription will be open from October 24-27, 2023.

Highlighting the potential of the hotel trust with the largest asset value in Thailand, it is set to invest in two new projects: "Grand Center Point Space Pattaya" and "Grand Center Point Pattaya," which have an average occupancy rate of over 91% in the first six months of 2023, supporting an estimated first-year return of over 10.5%/2.

Ms. Jittisa Charoenpanit, Executive of Investment Banking at Kasikornbank Public Company Limited, as the financial advisor and joint distributor, revealed that after the LHHOTEL Trust offered capital increase units to existing unitholders/1 who had subscription rights from October 16-20, 2023, the response was very positive. Recently, LHHOTEL set the final offering price for the capital increase units at 10 Baht per unit. Following this, the public will be able to subscribe from October 24-27, 2023, at Kasikornbank Public Company Limited, Siam Commercial Bank Public Company Limited, and other distributors including CIMB Thai Bank Public Company Limited, Krung Thai Bank Public Company Limited, Innovest X Securities Co., Ltd., Maybank Securities (Thailand) Public Company Limited, Dao Securities Public Company Limited, Pie Securities Public Company Limited, and Land and Houses Securities Public Company Limited. It is expected that the capital increase units will be listed on the Stock Exchange of Thailand within November.

Mr. Yothavee Sutthikulpanit, Executive of Investment Banking and Capital Markets at Siam Commercial Bank Public Company Limited, as the financial advisor and joint distributor, stated that the LHHOTEL Trust is moving forward with additional investments in two hotels in Pattaya: "Grand Center Point Space Pattaya" and "Grand Center Point Pattaya" from LH Mall and Hotel Co., Ltd., a subsidiary of Land and Houses Public Company Limited. The offering of capital increase units of LHHOTEL to existing unitholders who received subscription rights has received a positive response, reflecting investors' confidence in this additional investment. LHHOTEL is a leading hotel trust with the largest asset value in Thailand, and after this additional investment, the asset value will double to over 20 billion Baht, with an estimated first-year return rate of approximately 10.5%/2. The past performance of LHHOTEL has quickly recovered following the easing of the COVID-19 situation and the reopening of the country, and the new assets to be invested in have shown outstanding performance.

Mr. Monrat Phadungsit, Managing Director of Land and Houses Fund Management Company Limited, as the manager of the LHHOTEL Trust, stated that the tourism outlook for Thailand in the latter part of this year will benefit from entering the high season and tourism stimulus policies, making it a good time for investment in hotel-type trusts that benefit from the overall recovering tourism sector. Additionally, the upward trend in interest rates nearing their peak positively impacts investments in trusts, which provide continuous dividend returns, especially for LHHOTEL, which has shown rapid recovery in performance. Currently, it has already invested in three Grand Center Point hotel projects in Bangkok and is moving forward with additional investments in two Grand Center Point hotels in Pattaya.

Dr. Natthakawin Chiamchotipatanakul, Senior Director of the Infrastructure and Real Estate Fund Division at Land and Houses Fund Management Company Limited, as the manager of the LHHOTEL Trust, stated that the LHHOTEL Trust currently has three projects: Grand Center Point Terminal 21, Grand Center Point Ratchadamri, and Grand Center Point Sukhumvit 55, with a total of 1,401 rooms. The performance in the first six months of 2023 for these three hotels has an average occupancy rate of about 90%, and the average room rates are over 20% higher than the same period in 2019. The LHHOTEL Trust has resumed paying benefits (dividends) to unitholders since the third quarter of 2022, with a total of 0.88 Baht per unit paid in the first eight and a half months of 2023, marking the highest record for the same period since the establishment of the trust. Recently, the trust is preparing to invest further in the Grand Center Point Space Pattaya and Grand Center Point Pattaya hotels, marking the first diversification of investments into Pattaya and will double the asset value to over 20 billion Baht, while the remaining lease term will increase to approximately 22 years from the previous 18 years, along with improved asset distribution, with 55% in Bangkok and 45% in Pattaya.