51.69% Delta Chelsea

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1 HERITAGE AND OPPORTUNITY

2 51.69% Delta Chelsea

3

4 # * * * * # # # * Appleby Canon s Court, 22 Victoria Street Hamilton HM12 Bermuda (852) (852) Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre 11 Bermudiana Road Pembroke HM08 Bermuda (852) (852)

5 (1) 2012 (2) (i) (ii)

6

7 , , % 4, , % 1 1, , % % % 7% i) ii)iii) 5

8 % 9% 3% 20% 42% 26% 88% % 5% 4,535 4,674 4,227 48% 39% 1,

9 % 1, % % % % 2, , % (124.0) (117.6) 5.5% (222.6) (226.1) 1.6% % (20.7) (6.2) 233.9% (100.0) (125.0) 20.0% % (9.0) (7.2) 26.0% 1, , % (168.8) (143.1) 18.0% 1, , % 7

10 % % ,500 2, % 80% 2,128 1,779 1,732 1, % 85% 1,788 1,487 1,559 1, % 87% 1, % 75% % 80% % 66% % 68% % 55% Delta Chelsea 1,590 1,590 73% 68%

11 上海朗廷揚子精品酒店 洛杉磯帕薩迪納朗廷享廷頓酒店 英國倫敦 朗廷酒店 二零一一年年報 二零一 二零一一 二 二零 零一 零一一 零 一一 一 一年 年年 年年報 年報 年 報 9

12 % EBITDA % EBITDA % 20%EBITDA % %EBITDA55.5% % % 20% 2, , % 10

13 香港朗廷酒店大堂 上海新天地 香港朗豪酒店 餐飲業務收入於2011年按年上升13% 主要受助於商務宴 會增加及其榮獲米芝蓮二星評級的中菜廳表現強勁 酒 店 於 2011 年 錄 得 較 高 的 87% 平 均 入 住 率 2010 年 85% 主要原因為來自東南亞及中國內地的商務及消閒旅 客增加 當中 內地旅客入住的客房晚數於2011年按年上 升32% 鑑於需求強勁 酒店得以將平均房租由2010年的 1,487港元調升20%至2011年的1,788港元 可出租客房平 均收入 RevPAR 因此按年上升24% 二零一一年年報 二零一 二零一一 二零 二 零一 零一一 零 一一年 一一 年年 年年報 年報 年報

14 , , % % 1, , % % % 3, , % EBITDA % % % % % EBITDA 1, % % % 20111, % %EBITDA %

15 % % % % % % % % % % %201130% % % % Delta Chelsea 2011 EBITDA 20103, % % % % %3% %EBITDA 2011 Delta Chelsea % % %

16 % % % 90.4% 2.2% % % , % % %

17 % 20116,400 11% , %

18 % % % % % % % % % 20119, % % % % 20114, % 2, % % , ,640 16

19 % % % % % % % % % 17

20 1, , /1550%

21

22 %330 Wabash Avenue IBM Building

23 Palm Court設計構思 美國芝加哥 朗廷酒店 二零一一年年報 二零一 二零一一 二零 二 零一 零一一 零 一一 一 一年 年年報 年年 年報 年 報

24 % , % 7.7% % 2% 16.1%

25 ,400 7, , ,6503, ,300 9,

26 24

27 2011 OHSAS

28 2011 EC3 Global EarthCheck Programme Certified GoldCertified Silver EC3 Global EarthCheck Programme ISO Patron Gold Member 2013LEED 26

29 2011 Harry 2012GRI 27

30

31 TOM

32

33

34

35 A.2.1 A.2.1 A.4.1 A.4.1 A

36 25% 42% 33% 34

37 www.GreatEagle.com.hk

38

39 /4 3/4 4/4 4/4 4/4 0/4 4/4 2/4 3/4 1/2 1/1 1/1 4/4 2/2 1/1 1/1 4/4 2/2 1/1 1/1 4/4 2/ % 87.5% 100% 100%

40 (a) (b) (c) (a) (b) 38

41 (c) (d) (e)

42 B.1.2 (a) (b) A

43 (a) (b) , , , , ,000 60,000 50,000 50,000 40,000 40,000 30,000 30,000 20,000 41

44 , , ,122,000 1,098,000 42

45 (a) (b) (c) (d)

46

47 ,000 (1) (2)

48 (a) (b) (c) 3.9% 4,860 (TQM)

49 (1) (2)(3) 34 47

50 ,000, ,000, ,067, ,180, ,884,000 3,110,0002,807, ,208,8003,110, % 2,807, , ,157, ,369, ,185, ,101, , ,737,580 3,110,000 49,208, ,381,240277, ,487,272 48

51 109(A)

52 XV XV (8) 47,010,104 (1) 4,233,302 (2) 283,525,919 (3) 1,242, ,011, , ,146 (4) 208,891,692 (5) 525, ,258, ,332 4,592,671 (6) 208,891,692 (5) 214,483, ,000 10, ,000 10, , ,891,692 (5) 600, ,546, ,063, ,891,692 (5) 412, ,366, ,891,692 (5) 208,891, ,855,046 3,764 33,269,396 (7) 208,891,692 (5) 246,019, ,018,753 1,050,000 2,068,

53 (1) 47,010,104 5,783,926 (2) 4,233, ,000 (3) 283,525,919 (i) 208,891,692 (ii) 74,634,227 (4) 639, , ,246 (5) (3)(i) (6) 4,592,671 (7) 33,269,396 (8) ,067, (a) % 150, % (b) MGIL MGIL 33.33% MGIL66.67% XVXV

54 8.10(2) (a) (b) 13.51B(1) 13.51B(1)

55 14A MCL SODHMCL SODH 60% 40% LHC SODH %40% SODHSODH 14A 14A 0.1%5% 14A 53

56 2. (a) ,057,000 5,234,000 5,277, (b) ,959,

57 (c) SODH LHC SODH ,000,00097,560, (a) 5,185 2(b) 6,490 2(c) A (1) (2) (3) A.38 55

58 /01/2007 (1) 2,733,000 (1,116,000) (88,000) 1,529,000 05/01/ /01/ /01/2009 (1) 2,873,000 (1,768,000) (32,000) 1,073,000 09/01/ /01/ /03/2010 (2) 2,703,000 (174,000) 2,529,000 05/03/ /03/ /03/2011 (2) 3,047,000 (3) (151,000) 2,896,000 08/03/ /03/ ,309,000 3,047,000 (2,884,000) (445,000) 8,027,000 (1) 1999 (2) 2009 (3) ,247,0001,800,000 (4) (5) 1.00 (6) 24 (7)

59 /01/2007 (1) 600,000 (600,000) /01/2009 (1) 609,000 (609,000) /03/2010 (2) 620, , /03/2011 (2) 622, , ,829, ,000 (1,209,000) 1,242,000 04/01/2007 (1) 200, , /01/2009 (1) 125, , /03/2010 (2) 100, , /03/2011 (2) 100, , , , ,000 04/01/2007 (1) 200, , /01/2009 (1) 125, , /03/2010 (2) 150, , /03/2011 (2) 125, , , , ,000 04/01/2007 (1) 100, , /01/2009 (1) 112, , /03/2010 (2) 100, , /03/2011 (2) 100, , , , ,000 04/01/2007 (1) 300, , /01/2009 (1) 250, , /03/2010 (2) 200, , /03/2011 (2) 300, , , ,000 1,050,000 04/01/2007 (1) 1,333,000 (516,000) (88,000) 729, /01/2009 (1) 1,652,000 (1,159,000) (32,000) 461, /03/2010 (2) 1,533,000 (174,000) 1,359, /03/2011 (2) 1,800,000 (151,000) 1,649, ,518,000 1,800,000 (1,675,000) (445,000) 4,198,000 57

60 (1) /01/ /01/ /01/ /01/ /01/ /01/2014 (2) /03/ /03/ /03/ /03/ /03/ /03/2016 (3) (4) 1.00 (5) 24 (6) % XV (5) HSBC International Trustee Limited 286,689,484 (1) Powermax Agents Limited (2) 154,947, Surewit Finance Limited (3) 43,877, Adscan Holdings Limited (4) 33,269,

61 (1) HSBC International Trustee Limited ( HITL ) (i) 208,891, %HITL (ii) 74,634, %HITL (2) Powermax Agents Limited HITL 154,947,717(1)(i) (3) Surewit Finance Limited HITL 43,877,919(1)(ii) (4) Adscan Holdings Limited (5) ,067, XV % 59

62 1,623, %

63

64

65 ,746,336 4,694,155 (3,182,040) (2,888,798) 1,564,296 1,805,357 (362,081) (349,290) 1,202,215 1,456, , , , ,775 (614,856) 458,437 16, ,072 (222,569) (226,149) 16 (90,867) (20,694) (6,187) 10 (100,027) (125,011) 3,375,756 2,259,180 (9,032) (7,167) 4,396,370 4,814, (169,167) (140,622) 12 4,227,203 4,674,

66 ,227,203 4,674,356 (19,280) 1,080,015 (19,782) 81,186 23,109 (66,197) 66,344 24,721 12,356 (80,538) 1,263,010 4,146,665 5,937,366 64

67 ,140,331 10,409,396 9,875, ,879,376 4,192,297 3,651, ,460,751 13,377,171 71, , , , , ,660 8,083, ,834,389 3,309,997 2,721, , , , ,295 61, ,551 35,151,104 32,091,869 25,356, ,240 77,398 65, , , , , , ,251 55, , ,439,288 1,553,444 1,859,563 3,054,196 2,160,150 2,809, , , , ,833 87,701 66, ,585, , ,040 9,331 3,474,724 1,641,740 1,179,027 () (420,528) 518,410 1,630,827 34,730,576 32,610,279 26,987, ,862 2,685,950 4,037, , , ,211 1,141,454 2,965,149 4,284,539 33,589,122 29,645,130 22,702,734 65

68 , , , (4,583) 33,279,172 29,333,726 22,391,821 33,589,122 29,645,130 22,702,

69 ,572,734 1,572, ,045,847 22,147,472 4,813 4,234 22,050,943 22,151,969 (6,028) (5,319) 22,044,915 22,146,650 23,617,649 23,719, , ,404 (4,583) 34 23,307,699 23,407,980 23,617,649 23,719,384 67

70 ,913 3,739,100 (2,346,769) 1, ,540 (3,470) 31,919 20,181,221 22,317, , , ,913 3,739,100 (2,346,769) 1, ,540 (3,470) 31,919 20,566,851 22,702,734 4,674,356 4,674,356 1,080,015 1,080,015 23,109 23,109 81,186 81, ,251 66,344 12,356 12,356 1,080,015 23,109 93,635 66,251 4,674,356 5,937,366 (336,269) (336,269) ,336 (5,674) 18,153 (8) (8) 1,309,822 1,309,822 13,332 13, ,404 3,762,428 43,068 23,109 1, ,540 90,165 39,577 66,251 24,904,938 29,645,130 4,227,203 4,227,203 (19,280) (19,280) (19,782) (19,782) 54 (66,251) (66,197) 24,721 24,721 (19,280) 4,993 (66,251) 4,227,203 4,146,665 (370,315) (370,315) 4, ,187 (14,282) 199,438 (59) (59) (1,404) (43,240) 1,404 (1,575) (44,815) (4,583) (4,583) 17,661 17, ,533 (4,583) 3,928,316 23,788 23,109 3, ,965 95,158 42,956 28,761,826 33,589, /90 68

71 ,396,370 4,814,978 (3,375,756) (2,259,180) 9,032 7,167 4,094 (16) 1,544 (112,485) (113,063) (220,072) (191,311) (177,190) 91, ,516 (3,043) (599,495) 2, , ,290 17,661 13,332 (678,688) (571,775) 614,856 (458,437) (16,039) 16 90,867 1,223, ,219 (17,842) (11,624) (25,428) (104,916) 63, ,303 1,244, ,982 (101,677) (90,295) (27,072) (3,084) ,115, ,618 69

72 ,813 49,132 3, , ,465 5,004 (11,714) (4,797) (210,607) (748,269) (424,922) (147,466) (28,842) (8,395) (1,493) (189,198) (219,661) (112,500) (224,612) 11, , , , , ,500 (12,295) 61, , ,571 (95,477) (101,292) 41,397 15,896 (49,398) 1,854,541 (1,940,061) (838,344) (212,331) (334,019) (401,329) (1,257,759) 883,230 (300,570) 2,614 3,782 1,553,444 1,850,232 2,439,288 1,553,444 2,439,288 1,553,444 70

73 ,630, ,476, ,297, ,846, ,297, ,143,000 71

74 ,860, ,287, ,147, ,860 94, , , , ,

75 ,976, ,297 13,377,171 (759,675) 480,476 (279,199) 12,217, ,773 13,097,972 24,024, ,773 24,904, (632,841) 385,630 (247,211) 20,181, ,630 20,566,851 73

76

77 (a) (b)(c)

78

79 3. (i) (ii) 39 77

80

81 3. 79

82 % 80

83 3. 81

84

85 3. 83

86

87

88

89 3. 87

90

91 ,273, ,140,00090,867,000 89

92 (a) (i)

93 6. (a) (i) ,491, ,926,000 (ii) ,788 42, , ,662 4,191 2,600 6,401 2, , ,782 60, ,787 91

94 (a) (ii) 10% % 10% % 10% % 10% % 10% % ,379 4, ,842 13,378 6, ,079 92

95 6. (a) (iii) 10% % 6,520, ,388,000 5% 20105% ,004,00012,928, ,156,00017,605,000 (b) ,528, ,585,306,000 93

96 (b) , , , % 6.09% 5,855 5,855 11, ,543 21,895 21, , , , % 5.88% 26, ,207 2,098, ,567 31,911 31, ,000 2,932,686 2,898, , ,062 2,110, ,110 53,806 53, ,446 3,810,917 3,708, , , , % 6.09% 137, , , , % 5.96% 43, ,880 63,276 2,620, ,392 3,118,468 2,985, , ,229 63,276 2,620, ,392 3,926,157 3,784,376 94

97 6. (b) ,164 2,719 3,427 1,317 12,627 (5,566) (2,832) (3,815) (1,448) (13,661) (402) (113) (388) (131) (1,034) ,412 4,728 (340) (4,750) (5,090) (24) (338) (362) (c)

98 (c) (d) , ,542 45,829 45, , , ,738 12,077 2,689,753 2,551,177 12,295 2,439,288 1,553,444 5,886,178 4,659, , ,820 77, , ,560 92, ,660 96

99 6. (d) , , , ,550 3,394,168 3,484,268 3,708,213 3,784,376 1, ,045,847 22,147,472 4,813 4,234 22,050,660 22,151,706 (e) 97

100 (f) , ,636 65,200 65,200 65, , ,836 1,034 1, , ,820 77,740 77,740 83,879 83,879 83, , ,

101 6. (f) , , ,501 28,842 28,842 (250,761) (250,761) 458, ,208 1,770 1, , , , , ,466 (225,390) (225,390) (614,184) (614,184) , ,636 99

102 , ,975 19,713 19,158 3,862,001 3,269, , ,098 3, , , , , ,022 4,746,336 4,694,

103 ,275 3,862, , ,765 4,746,336 2,329 9,680 (12,009) 297,604 3,862, , ,445 (12,009) 4,746, ,013 1,018, , ,109 1,671,338 16,278 (168,827) (362,081) 678,688 (614,856) (90,867) (100,027) 3,375,756 (9,032) 4,396,370 (169,167) 4,227,

104 , ,976 6,270 6,270 9, ,955 21, ,

105 ,133 3,269, , ,737 4,694,155 20,980 11,501 (32,481) 305,113 3,269, , ,238 (32,481) 4,694, , , , ,620 1,905, ,044 (137,107) (349,290) 571, ,437 16,039 (125,011) 2,259,180 (7,167) 4,814,978 (140,622) 4,674,

106 , ,680 15,570 15,570 4, , ,

107 ,200,410 2,527,105 8,405,466 7,938, , ,027 2,679,661 2,636, , , , , , ,961 1,917,655 1,951, , , , , , , , ,860 67,363 49, ,746,336 4,694,155 15,019,707 14,601, ,065 7, , ,680 6,270 15, , ,190 14, ,429 6, , ,

108 ,003 70, ,980 41,107 8,044 13, , , ,266 89,308 22,294 26, , ,359 10, ,689 (492) 11,928 (184) 112, , ,561 27,893 8,118 (2,446) 56,679 25, , , % % 106

109 ,396,370 4,814, % % 725, , ,700 30,761 (133,660) (300,242) 20,046 (2,630) (557,000) (372,765) 1,490 1,183 15,178 16,087 (34,203) (27,872) (17,686) 26,193 26,881 (5,978) (7,566) 169, ,

110 ,611,125 1,413,866 17,661 13,332 1,628,786 1,427, , ,290 6,122 8,163 2, ,094 28,505 47, , ,834 99,402 33,147 1,544 18, , ,955 3,043 2,540 3, ,495 99,795, ,926, , ,

111 ,917 2,080 4, , , , , , , ,560 1,026 1, ,649 2,510 15,557 3,724 8, , ,153 1,187 3, , , , , , , ,423 1,141 1, ,959 2,290 11,552 2,832 6, ,

112 ,694 11,185 1,998 1,650 1, ,531 14, ,000,0014,500, ,500,0015,000, ,500,0016,000, ,000,0016,500, ,500,0017,000,

113 , , , , , , , , ,984 2, , , , ,

114 ,227,203 4,674,356 (79,018) (4,113) 4,148,185 4,670, ,856, ,627, ,329 1,665, ,771, ,292,

115 ,297,343 2,350,420 9,017,815 89, ,849 3, ,492,750 11, ,684 30, , , , , ,931 91,000 91,000 (1,002) (45,641) (46,643) (6,694) (13,935) (20,629) ,308,861 2,349,418 9,282, , , ,529 3, ,422,576 (6,029) (33,040) (264) (7,722) 1 (47,054) 8,864 52, , ,955 (14,210) (756) (14,966) ,302,832 2,349,418 9,258, , ,114 1,006,276 3, ,573, , ,007 2,235,747 15, ,261 3, ,617,602 1,941 46,641 17,575 66,157 44, ,935 4, , ,290 (213) (4,739) (4,952) (2,600) (12,317) (14,917) , ,562 2,466,723 14, ,387 3, ,013,180 (280) (12,392) (5,410) (18,082) 44, ,280 5, , ,081 25,870 63,600 1,397 90,867 (14,110) (756) (14,866) , ,328 2,711,211 20, ,562 2, ,433, ,085,008 1,616,090 6,547, , , , ,140, ,116,627 1,660,856 6,815, , , , ,409,

116 ,597,503, ,642,109,00018,587, ,747, ,867, % ,691,000 64,800,000 23,109,000 91,000, ,192,297 3,651,711 (1,004) 2,205 9,395 4,670 64,800 (91,000) 678, ,775 (11,864) ,879,376 4,192,

117 17. (a) 3,880,970, ,291,290,000 (b) Cushman & Wakefield Western, Inc. (c) ,691,970 3,118, , , , ,007 4,879,376 4,192, ,572,734 1,572,

118 a 189, ,198 b 10,904,736 10,795,911 2,596 2,596 10,907,332 10,798,507 5,132,471 2,377,377 16,229,013 13,365,094 c 231,738 12,077 16,460,751 13,377,171 7,606,225 11,774,827 (a) MGIL24,118, ,120,000MGIL (b) ,825, ,311,

119 19. (c) MGIL218,523, ,331,884 52,435,559 (17,576,317) (19,293,652) 38,755,567 33,141,907 15,945,899 13,091,515 1,940, ,822 4,634,700 2,567,985 6,492,970 4,425, , ,364 3,356,217 2,229,353 (66,251) 66,

120 , ,112 20,878 5, , , Queenbrook Investments LimitedQueenbrookWealth Joy Holdings LimitedWealth Joy Wealth Joy 50% 295,500,000Wealth Joy Wealth Joy ,500, ,612, ,490, ,301, , , ,306 64, ,087 7,190 24,721 12,

121 ,200 83,879 19,781 19,781 7,794 92, ,660 65,200 83, ,420, ,612 2,721, , ,680 (23,400) (23,400) 458, , ,551, ,820 3,309, , ,976 (23,400) (23,400) (614,184) (614,184) ,689, ,636 2,834,

122 ,340,000, % % % 6.27% 7.13% % % % % % ,251 72, , , , ,866 (96,251) (55,819) 77, , ,251, ,126, ,697, ,740,000 6% 6.32% % 7% % 5.15% 20103% 5.15%

123 ,295, % 4.81% % 4.6% , ,740, ,650 5,311 5,834 6,858 39,149 35,666 43,565 29,521 95,240 77,

124 , ,542 23,242 21,410 45,829 45,280 61,019 61, , , , , ,158 11, ,833 14, , , ,991, ,212,

125 ,158 11, ,833 14,942 50,991 26, ,277 61,728 2, ,620 62,

126 , , , ,411 3,194 3, , , , , , , ,758 2, ,912 5, , , , ,973 33,955 19, , ,

127 , (903) (362) ,254,00012,607, ,0004,367, ,391,819 2,469,881 1,009,675 1,019,641 3,401,494 3,489,522 (7,326) (5,254) 3,394,168 3,484,268 2,585, , ,721 2,559, , ,739 3,394,168 3,484,268 (2,585,306) (798,318) 808,862 2,685, ,000,

128 , ,179 6,810 7, , , , ,584, , ,542 2,559,211 29, ,739 29,530 99,882 2,898,156 2,985, % 6.09% 0.64% 5.88% 4.91% 6.09% 1.41% 5.96% ,712, ,072,

129 ,731 (385,037) 15, ,211 9,392 (2,894) 43 6,541 (43,256) 33,737 34,966 25, ,867 (354,194) 50, ,199 (3,055) (426) 64 (3,417) 34,683 38,852 (16,856) 56, ,495 (315,768) 33, ,461 2,597,888, ,768,418,000 1,314,416, ,384,322,000 1,283,472, ,384,096, ,604, ,737, ,604, ,737, ,815, ,515,

130 (a) , , , ,000 (b) , , , ,913 2,884 1, ,180 3, (2,807) (1,404) 629, , , , ,180, , ,110, ,157, , ,185, , , ,738 3,110,000 49,209 2,807, ,0004,583,

131 ,739,100 1, ,202 31,919 18,886,719 23,085,590 23,336 (5,674) 17,662 13,332 13,332 (8) (8) 627, ,673 (336,269) (336,269) ,762,428 1, ,202 39,577 19,178,123 23,407, ,187 (14,282) 194,905 17,661 17,661 (59) (59) (43,240) 1,404 (1,575) (43,411) 100, ,938 (370,315) (370,315) ,928,316 3, ,627 42,956 18,908,746 23,307,

132 a b c % d % e f g. (i) (ii)5 130

133 a b c % d % e f g. (i) (ii)5 (iii)2009 h

134 ,733,000 (1,116,000) (88,000) 1,529, ,873,000 (1,768,000) (32,000) 1,073,000 5,606,000 (2,884,000) (120,000) 2,602,000 2,602, ,000 (856,000) (42,000) ,794,000 (14,000) (47,000) 2,733, ,900,000 (27,000) 2,873,000 6,592,000 (870,000) (116,000) 5,606,000 2,733,

135 ,703,000 (174,000) 2,529, ,047,000 (151,000) 2,896,000 2,703,000 3,047,000 (325,000) 5,425, ,742,000 (39,000) 2,703,

136 ,621,000 (1,209,000) 1,412, ,291,000 (670,000) 2,621, ,170,000 1,247,000 2,417, ,170,000 1,170,

137 (i) 1.00 (ii) (iii) 24 (iv) a 31.90% 48.98% 52.48% 41.76% 41.88% b 2.28% 2.46% 5.75% 1.40% 0.95% c 1.88% 1.65% 1.31% 3.82% 3.81% (a) (b) (c) ,661, ,332,

138 % 10% % 10% 5% , , ,123, ,443, ,010, , (a) ,180, , (b) ,474, ,042,000 55,072, ,311,00036,714, ,306,000 57,413, ,753,00038,275, ,672,000 (c) ,160, ,632,

139 (a) 4,001,107, ,392,106,000 (b) 5,895,335, ,084,116,000 (c) 133,309, ,836, ,229, ,744,00070,861, ,517, ,500,000 32,500, ,000,000132,280, ,247, ,000,000 12,675,00098,481, ,000,000MGIL 137

140 ,562, ,975, , , , , , , ,184 69, , , ,906 12, ,510 13,639 32,416 26,

141 41. 19(b) ,400 10,316 1, ,474 72,078 25,643 13,407 51,177 20,534 3,836 1,488 1,539 1,886 23,271 20,790 5,218 2,216 4,602 1, ,371 17,106 11,956 10, , ,393 4,380 1, , (c) 231,738 12, , ,413 41,654 19,

142 MGIL 24,118,000188,120,000MGIL (a) Jolly Trend Limited % % % % % 140

143 42. 16,000, % Eagle Property Management (CP) Limited % % 10, % % % % % % 5, % % % 5, % % % 10, % % 141

144 ,000, % Seasons Fitness Limited % % % % 2,000, % % % % 100, % 1,800, % 2,000, % % % Zamanta Investments Limited % * 11 60% 142

145 42. Bright Form Investments Limited % Fine Noble Limited % G.E. Hotel (Xintiandi) Limited % Keen Flow Investments Limited % Main Treasure Holdings Limited % Nelsprite Limited % Queenbrook Investments Limited % Top Domain International Limited % Great Eagle Hotels (UK) Limited % Great Eagle Hotels (Canada) Limited % Katesbridge Group Limited % Southgate Hotel Management Pty. Ltd. 17, % 143

146 Great Eagle Hotels (New Zealand) Limited % Great Eagle Hotels (Auckland) Limited 1, % Pacific Chicago LLC 8,000, % Pacific EIH Sacramento Corporation* % Pacific Dolphin Corporation % Pacific Huntington Hotel Corporation % Pacific 2700 Ygnacio Corporation % Pacific Ygnacio Corporation % Shorthills NJ, Inc % 20, % 350, % * 500, % 350, % Toptech (Macau) Limited 225, % *

147 City Apex Limited 3, % 23% * % 33.33% * 4,956,590, % 51.43% 320,592, % 20.15% * City Apex Limited50% 145

148 Wealth Joy Holdings Limited 21 50% 146

149 1 6, % , % , % , % 4H 23, % , % 8 364, % , % , % 147

150 1 and 1B Portland Place, Regent Street, London, W1N 4JA, United Kingdom 390, % Delta Chelsea Hotel 33 Gerrard Street West, Toronto, Ontario M5G 1Z4, Canada 1,130, % One Southgate Avenue, Southbank, Melbourne, Victoria 3006, Australia 385, % 83 Symonds Street, Auckland 1, New Zealand 309, % Pacific Ygnacio Plaza 500 Ygnacio Valley Road, Walnut Creek, CA 94596, USA 118, % 2700 Ygnacio Valley Road 2700 Ygnacio Valley Road, Walnut Creek, CA USA 119, % 250 Franklin Street, Boston, MA 02110, USA 281, % 353 Sacramento Street 353 Sacramento Street, San Francisco, CA 94111, USA 307, % 148

151 1401 South Oak Knoll Avenue, Pasadena, California 91106, USA 489, % 330 North Wabash, Chicago, Illinois, USA 342, % C04* 3,079,000 50% * 2014/15 149

152 ,182,039 4,750,433 3,958,366 4,694,155 4,746,336 4,891,266 (109,177) 1,040,755 4,814,978 4,396,370 (355,782) 213, ,210 (140,622) (169,167) 4,535, ,881 1,232,965 4,674,356 4,227,203 4,535, ,881 1,232,965 4,674,356 4,227, ,535, ,881 1,232,965 4,674,356 4,227, ,269,946 24,403,020 28,166,300 34,252,019 38,205,300 (11,512,021) (6,092,971) (5,463,566) (4,606,889) (4,616,178) 26,757,925 18,310,049 22,702,734 29,645,130 33,589,122 26,757,925 18,310,049 22,702,734 29,645,130 33,589,

153 % % % EBITDA HITL HSBC International Trustee Limited HKAS HKFRS HKICPA JCE 151

154 MGIL 33.33% Queenbrook Queenbrook Investments Limited RevPAR Wealth Joy Wealth Joy Holdings Limited 152

155 (i) (ii) (iii)

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