President Reflections Book

* Working in Swiss-Belhotel International The Middle East office.
* Attended various project meetings and meeting with owners.
- Tuesday, 04th February 2014: Doha, The Middle East.
* Flew Dubai to Doha.
* Meeting with owner of SBDH.
- Wednesday, 05th February 2014: Bahrain, The Middle East.
* Flew Doha to Bahrain.
* Meeting with owner of Swiss-Belhotel Seef, Bahrain.
- Thursday - Sunday, 06th – 09th February 2014: Dubai, The Middle East.
* Flew Bahrain to Dubai.
* Working in Swiss-Belhotel International The Middle East office.
- Monday - Tuesday, 10th – 11th February 2014: Saudi Arabia, The Middle
East.
* Flew Dubai to Saudi Arabia.
- Wednesday, 12th February 2014: Dubai, The Middle East.
* Working in Swiss-Belhotel International The Middle East office.
- Thursday, 13th February 2014: Hong Kong.
* Working in Swiss-Belhotel International Hong Kong office.
- Friday - Monday, 14th – 17th February 2014: Wuxi - Hefei - Wuhan, China.
* Visit Swiss-Belhotel Wuxi with Josef Woelfle.
* Visit Swiss-Belhotel Hefei with Josef Woelfle.
* Meeting owner of Beijing project in Wuhan with Steve Jui.
- Tuesday, 18th February 2014: Hong Kong.
* Working in Swiss-Belhotel International Hong Kong office.
* Flying back to Dubai mid-night flight, hopefully to sign several hotel projects.

FEBRUARY Thought Of The Week
2013
Conference countdown two days to go
WEEK 1-4 – the most critical meeting of Swiss-Belhotel International
– a time of learning; professional development
and a renewal and refreshing of our “Passion and Professionalism”
************************************

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 31901

10240| | PPRREESSIDIDEENNTT’S’SDDIAIARRYY Dear Team,

Let’s make this conference and happening.

- Wednesday, 19th February 2014: Hong Kong / Dubai, The Middle East
* Mid-night flew to Dubai.
* Working in Swiss-Belhotel International The Middle East Office.

- Thursday, 20th February 2014: Dubai, The Middle East
* Working in Swiss-Belhotel International The Middle East Office.
* Attended meeting with potential project owners – big announcement to be

made.

- Friday, 21st February 2014: Dubai, The Middle East / Sydney, Australia
* Morning flight flew to Sydney.

- Saturday – Sunday, 22nd to 23rd February 2014: Sydney, Australia
* Working in The York by Swiss-Belhotel.
* Attended various meetings.

- Monday, 24th February: Sydney, Australia / Auckland, New Zealand
* Morning flight flew Sydney to Auckland
* Working in Swiss-Belhotel International New Zealand.

- 25th February to 02nd March 2014: New Zealand
* Working in Swiss-Belhotel International New Zealand.
* Board meetings in New Zealand.

- Monday, 3rd March: Auckland, New Zealand / Sydney, Australia
* Morning flight flew Auckland to Sydney
* Working in The York by Swiss-Belhotel.

- Tuesday, 4th March: Sydney, Australia
* Working in The York by Swiss-Belhotel.

- Wednesday, 5th March: Sydney, Australia / Hong Kong
* Morning flight flew Sydney to Hong Kong.

- 6th March to 7th March 2014: Hong Kong
* Working in Swiss-Belhotel International Corporate Head Office Hong Kong.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

- Saturday, 8th March 2014: Hong Kong
*Over-night flight flew from Hong Kong to Dubai.

MARCH Thought Of The Week
2013
The General Managers’ Conference was a huge success
WEEK 1-4 and it was so positive to “Feel the Passion” – still some way to go.
************************************

Dear Team,

What is in six weeks:
Exciting times – there will be a number of announcements in the next two
months where at least 10 management contracts will be signed – many in The
Middle East.
- Sunday, 09th March 2014: Dubai, United Arab Emirates (UAE).
* Midnight flight to Dubai with Mr. Trevor Pun.
* Working in Swiss-Belhotel International Regional Office The Middle East.
- Monday - Wednesday, 10th - 12th March 2014: Dubai, United Arab
Emirates (UAE).
* Working in Swiss-Belhotel International Regional Office The Middle East.
* Night flight Dubai to Bali via Singapore.
- Thursday, 13th March 2014: Bali, Indonesia.
* Overnight flight on 12th March, flew from Dubai to Bali via Singapore.
- Friday, 14th March 2014: Bali, Indonesia.
*Attended opening of Swiss-Belinn Legian in Bali. What a great evening and
the General Manager, Mr. I Nyoman Suwamana Wahyu Putra (Wahyu) and his
team did a great job. Congratulations!
- Saturday, 15th March 2014: Bali / Jakarta, Indonesia.
*Flew Bali to Jakarta with Mr. Emmanuel Guillard.
- Sunday, 16th March 2014: Jakarta, Indonesia.
* Working in Swiss-Belhotel International Office Jakarta.
- Monday, 17th March 2014: Jakarta, Indonesia.
*Attended series of meetings with owners.
* Working in Swiss-Belhotel International Office Jakarta.
- Tuesday, 18th March 2014: Singapore / Batam, Indonesia.
* Morning flew Jakarta to Singapore with Mr. Ernst Zimmermann.
* Attended a meeting for a potential project.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 41103

10442| | PPRREESSIDIDEENNTT’S’SDDIAIARRYY * Went to Batam by ferry at noon.
- Wednesday - Saturday, 19th - 22nd March 2014: Batam, Indonesia.
*Attended the SBI 2013 – 2014 General Managers’ Conference, a very
successful conference and confirmed our huge development
- Sunday, 23rd March 2014: Batam / Bali, Indonesia.
* Host a SBI Senior Executive Meeting in the morning.
* Night flight to Bali with Mr. Emmanuel Guillard.
- Monday - Tuesday, 24th - 25th March 2014: Bali, Indonesia.
* Meeting and hotel visit with Stenden University group – our education
partners.
- Wednesday, 26th March 2014: Bali, Indonesia / Hong Kong.
* Meeting and hotel visit continued with Stenden University group.
* Night flight Bali to Hong Kong.
- Thursday, 27th March 2014: Hong Kong / Shanghai.
* Morning Flew Hong Kong to Shanghai.
* Meeting with potential JV Partner in China and hotel visit.
- Friday, 28th March 2014: Shanghai / Hong Kong.
* Morning Flew Shanghai to Hong Kong.
* Attended series of meetings and working in Swiss-Belhotel International
Corporate Head Office.
- Saturday - Sunday, 29th - 30th March 2014: Hong Kong.
* Working in Swiss-Belhotel International Corporate Head Office.
- Monday, 31st March 2014: Hong Kong.
* Working in Swiss-Belhotel International Corporate Head Office.
* Afternoon flight to Perth, Australia.
- Tuesday, 01st April 2014: Perth, Australia.
* Morning meeting with Lord Mayor.
* Attended series of meetings for potential project.
* Overnight flight from Perth to Sydney.
- Wednesday, 02nd April 2014: Sydney, Australia.
* Attended Executive Meeting of The York by Swiss-Belhotel.
* Night flight Sydney to Auckland, New Zealand.
- Thursday - Friday, 03rd - 04th April 2014: Auckland, New Zealand.
* Working in Swiss-Belhotel International Regional Office New Zealand.
- Saturday, 05th April 2014: Auckland, New Zealand / Sydney, Australia.
* Flew Auckland to Sydney.
- Sunday, 06th April 2014: Sunshine Coast / Sydney, Australia.
* Morning flew to Sunshine Coast and same day evening return to Sydney.
* Attended meeting for a potential project.
- Monday, 07th April 2014: Yangon, Myanmar.
* Flew Sydney to Yangon via Bangkok.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

* Mr. Ernst Zimmermann joined the Yangon trip.
- Tuesday, 08th April 2014: Yangon, Myanmar.
* Meeting with Mr. Serge Pun, the tycoon in Myanmar.
* Yangon hotel visiting & attended meetings for potential project.
- Wednesday, 09th April 2014: Yangon, Myanmar / Bangkok, Thailand.
* Attended meetings for potential project.
* Night flight to Bangkok.
- Thursday, 10th April 2014: Bangkok, Thailand.
* Attended series meetings for potential projects.
- Friday, 11th April 2014: Bangkok, Thailand / Hong Kong.
* Afternoon flight returned to Hong Kong.
- Saturday - Monday, 12th - 14th April 2014: Hong Kong.
* Working in Swiss-Belhotel International Corporate Head Office.
- Tuesday, 15th April 2014: Hong Kong / Bali, Indonesia.
* Morning flew from Hong Kong to Bali.
* Host SISE Revenue Meeting.
- Wednesday, 16th April 2014: Bali, Indonesia.
* Morning meeting with the representative of project in Australia.
* Evening attended opening of Swiss-Belresort Watu Jimbar. Again, an
exciting and successful evening. Congratulations to the General Manager Mr.
Marco Seiler and his team.
- Thursday, 17th April 2014: Bali / Jakarta, Indonesia.
* Morning flew to Jakarta and attended meetings.
- Friday, 18th April 2014: Jakarta, Indonesia.
* Working in Swiss-Belhotel International Regional Office Jakarta.
- Saturday, 19th April 2014: Jakarta, Indonesia.
* Working in Swiss-Belhotel International Regional Office Jakarta.
* Evening flight from Jakarta to Dubai.
- Sunday - Monday, 20th - 21st April 2014: Dubai, United Arab Emirates
(UAE).
* Working in Swiss-Belhotel International Regional Office The Middle East.
- Sunday and Monday, 20th to 21st April 2014: Dubai, United Arab Emirates
(UAE).
* Working in Swiss-Belhotel International Regional Office The Middle East.
- Tuesday, 22nd April 2014: Dubai, United Arab Emirates (UAE).
* Working in Swiss-Belhotel International Regional Office The Middle East.
* Evening flew Dubai to Sydney, Australia.

Team, keep up the hard work. We are still struggling with below budget
performance – a hangover of 2013 – but improvements are coming.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 41305

JUNE 2013 I Am Amaze
WEEK 1-4
I am amazed at the success of Swiss-Belhotel International
I am amazed at the doubt some have in this success
I am amazed at the dedication, commitment and professionalism of our
executives
I am amazed at the lack of Passion & Professionalism of some executives
I am amazed at the respect and belief our clients have in Swiss-Belhotel
International
I am amazed at the lack of respect and belief some of our clients have in
Swiss-Belhotel International

Dear team,

The President’s Reflections are issued supposedly on a regular basis – but
over the last 12 months have been issued on an irregular basis – due to time
pressures.

The President’s Reflections are my personal communication to you all my
travel movements and thoughts and special development in SBI.

It is my attempt to keep my links with you all as we grow bigger and as we
move faster.

It is my attemp to drive, lead and keep alive the “Passion & Professionalism”
that has made Swiss-Belhotel International the success it is.

Many of you drop me short notes and comments which I find most interesting
and rewarding feedback.

The President’s Reflections – will continue – but i will make them shorter and
not a detailed diary of my travel, but let you know where i have been.

I want you all to read my Reflections and then stop for a moment and reflect
– reflect on what you are doing, reflect what you are contributing; reflect on
what you are achieving; reflect on what you could have done better.

We all have to step up and focus on tomorrow.

10644| | PPRREESSIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

JULY 2013 Responsibility
WEEK 1-4
We are managers not consultants
Hotel management is a contracted responsibility
We are responsible for the business of the owner
We are responsible to manage professionally
We are responsible to achieve budget which we have committed to the
owners
We are responsible for the financial management of the hotel
We are responsible for the maintenance and security of the owners asset
We are responsible to manage the hotel safely and securely
We are responsible for the health and safety of our guests
We are responsible for the leadership and discipline of the hotel
We are responsible for the employment and development of the staff
We are responsible for the passion and professionalism of Swiss-Belhotel
International
This responsibility is huge
This responsibility can only be achieved together – the management company
/ the General Manager / the staff and management / the hotel
Make sure you are responsible

Dear team,

Another exciting month.
The demands are increasing as our growth continues.
Again i remind you to reflect
Reflect on what you are doing
Reflect on what you are contributing
Reflect on what you are achieving
Reflect on what you could have done better
Change and improvement always starts with oneself
Dont stop thinking about tomorrow
Thank you for being in the SBI team

Keep your Passsion
Keep your Professionalism
Keep achieving
Thank you for being part of the exciting SBI team
Remember you joined SBI – SBI did not join you.

104SW| ISPSR-EBSEILDHEONTTE’SL DINIATERRYNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 41507

AUGUST An Excerpt From The President’s Speech At
2013 The Hotel And Resort Development Summit
Southeast Asia Jakarta (14 August 2014)
WEEK 1-4
Every day is a great opportunity...
Be prepared to change.
Rethink the way you are doing things.
Get back to basics.
Getting back to basics is making sure you get

Costs right
Product right
Sales and marketing focused
Recruitment and training
- Ensure your people want to work for you

Ensure everyone from the top to the bottom have a passion for the guest and
the professionalism for the job.

SEPTEMBER An Excerpt From The President’s Speech At The
2013 2014 Sales & Pr Conference Bali, Indonesia

WEEK 1-4 Tremendous growth
However tremendous pressure on all of us
As we grow
As we have new pressures
As we strive for our passion and professionalism
This conference in Bali
Is to help us
Learn
Understand
Appreciate
Work together

10846| | PPRREESSIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

Realise we are a team
Realise our culture
Realise we need to continue
To develop our passion and professionalism
But I also realise that all these pressures cause issues in our team
In our understanding of each other
In our respect for each oter
So i have had badges made for this conference
A simple badge which says
Please say thank you
The badges are different colours of our brands
I want you all to wear this badge every day of this conference
I wnat you to look at this badge and say
Thank You....
My colleagues
Thank You for being part of Swiss-Belhotel International
Thank You for wanting to join Swiss-Belhotel International
Thank You working for Swiss-Belhotel International
Thank You for your passion and professionalism
Thank You for listening to me
Have a great conference and remember you only get out of something what
you put into it
Say thank you first and i am sure you will get a thank you back

OCTOBER Start Thinking
2013
1. Think of the user – the guest.
WEEK 1-2 2. Do not make things boring – we do.
3. Think of the experience – so we can encourage people to enjoy –which

our F&B outlets do not do.
4. Think of time / space/ light.
5. Think of value and economics and profitability. It is something worth

nothing, it gives nothing and creates nothing
6. Think differently
7. Think of the experience

These are the principles of thinking i am trying to apply all the time – but one
has to “look out” to see – not “look in” and be blinded.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 41709

Team, i have spent the last three years trying “to change our thinking” – you
can only change if you want to; you can only change if you think; you can only
change if you realise you must change and you must think.

Stop repeating our same old approach.
Start thinking about tomorrow. Our Passion & Professionalism – never
changes – our thinking; our application; our willingness to learn must change.

Let’s start thinking.

OCTOBER Dear Team,
2013
With the huge growth we are going through i continue to be concerned about
WEEK 3-4 fiscal responsibility.

Fiscal responsibility is being responsible for the financial performances of
our operations and Swiss-Belhotel Internationaal and taking seriously all
financial commitments and all financial performances. I am continually being
confronted by owners, and also episodes within Swiss-Belhotel International,
where the financial implications of decisions, commitments and actions are
not being handled in a professional and or businesslike manner. It is so hard
to handle the owner when i am put in such positions.

So i am concerned.

When... budgets are not taken seriously
When... expenditure approval procedures are not followed
When... reports are requested – and no report comes
When... there is no apparent concern for productivity or achieving goals
When... there is no sense of urgency
When... no budgeted commitments are made
When... budgeted expenditure commitments are made when under budget
profit performance is occuring

Always ask yourself these questions...
What are the financial implications of what i am doing??
Who should i discuss such implications with??
What should i do this if it was my own money??
What happens if this action or commitment fails???
Where is my risk management???

11048| | PPRREESSIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

Am i being professional and responsible??
What would i think if someone was doing this to me and my money??
Am i being professionally honest and responsible???

Note your team, your staff will do and follow your behaviour just like children
follow their parents.

Professionalism
Passion
Integrity
... Are not policies or procedures - they are an attitude

If the attitude is right – a company would never need policies and
procedures... think about it.

Until 1977... when i was part of the team writing the manuals for The
Peninsula Group... They never had written policies and procedures... they had
passion and professionalism and are a huge success story... Think about it.

You only need policy and procedures “when people think more about me and
less about we”... Think about it.

Thank you team.

NOVEMBER What Is Passion?
2013 An Excerpt From The President’s Speech At The
Hr Conference 2014
WEEK 1-2
What is passion?
When do you have passione?
I know it is when you see a nice looking guy
Or a nice looking lady
So what is passion?
Passion is a feeling
Yes a feeling you communicate
A feeling you give

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 41911

A feeling of wanting of understanding
Of wanting to give service
If you have no feeling
You might as well be dead

“Passion Will Separate us from other hotels”

I can feel the passion when i walk into any of our hotels
And i can also feel when there is no passion
I can go through every one of our hotels and comment on the degree of
passion
And when i look at the financial results of a hotel – the ones with passion are
always doing well
It is amazing
You all know Bernie, our mascot
A St. Bernard
The Swiss rescue dog
This dog generates passion
Every time i give one away i get a smile
The person getting thinks of who they can give it to make someone happy
Their child
Their boyfriend
I gave two to air hostesses at Cathay Pacific last week – and i got my excess
baggage through
Dogs engender love, appreciation, passion
You must have the same message
We want passion
Passion will separate us from other hotels.
No one can imitate your passion
The passion of Swiss-Belhotel International is in your hands

11250| | PPRREESSIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

NOVEMBER An Excerpt From The President Speech At The
2013
Hotel Management And Technology Indonesia
WEEK 3-4
Conference 13 November 2014

Ladies and gentlemen,

I am here to talk about establishing a successful hotel chain for regional and
global expansion.
Let me make it clear, i do not consider Swiss-Belhotel International a
successful hotel chain yet – we are well on our way but we still have a lot to
develop and achieve.
We have not achieved systems and operations that are totally sustainable.
We have not totally joined the e-Commerce revolution.
We have not conquered training and staff development.
We have not conquered marketing and sales.
We have not conquered operational management.
And let me let you into a secret – a successful hotel chain will never totally
conquer these ever changing elements.
It is all very well to achieve domestic success in such a vast and diverse
country as Indonesia.
It is another to succeed globally, but many of the principles remain the same.
Growth is not necessarily the economic saviour.
I should know with Swiss-Belhotel International growing from 3 hotels in 2000
to 125 hotels and projects in 2014. And we expect to have over 250 hotels
operating by 2020 the growth has brought challenges.
Challenges in :
Infrastructure – corporate and team development
Systems – computerisation and management
Capital – investment in the software of an international management company
– a considerable amount of capital is required.
Profitability hard to maintain during rapid growth.
Prioritising hard to maintain during rapid growth.
Prioritising resources capital / people.
People – qualified staff, dedicated staff, staff with passion and professionalism
are becoming harder and harder to find.
Swiss-Belhotel International is investing in its own infrastructure.
We have aliances with a large international computer group.
We have aliances with international hotel management schools and jointly

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 51113

operating training hotels.
We have aliances with sales, marketing and distribution companies.
All to find and to keep the right person and the right business in the right
hotel.
Branding; online marketing; the internet; mobile technology
Exciting stuff
Valuable assets to the industry
However
Opens up competition
Opens up the market
Sets us up as a global industry
50% Of all bookings will be online by 2017
We get 25% of our revenue online now
Key challenges for expansion will be high quality online delivery
As the consumer literally has the world at their finger tips.
The big question
Can we expand outside of our boarders?
From my years in the industry the answer is clearly yes.
But as we must be ready to change; to move; to rethink, then you will be a
winner
And that is positive
And that is profitable
How
How much
In what way
In what form
For how long
Will it be a combination of these elements?
Impossible to estimate
But be ready for growth
Be ready for risk
Be ready for change
Be innovative
Offer value
This is a service industry

A people proffession
Always be professional and passionate about what you do

11452| | PPRREESSIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

DECEMBER An Excerpt From Gmf ’s Commentary Published
2013 On Hotelier Indonesia (Dec 2014 Issues)

WEEK 1-4 GROWTH ENGINE
The Indonesian economy will post close to seven percent annual growth
and it looks set to dominate ASEAN, representing 40% of ASEAN growth by
2030. A major beneficiary is the hospitality sector and there are some positive
signs. In 2013, there was almost a 10% increase in RevPar. From June 2013
to June 2014 occupancy hit a healthy 73% as Indonesia achieved 4th place
in Asia behind Singapore, Japan and South Korea for occupancy and RevPar
growth. 290 hotels for 32,000 rooms are planned to open over the next three
years. The question is, can the market absorb this?

Growth is not necessarily the economic savior. We had three hotels in 2000
and now we have 125 – with projections to reach 250 operating hotels
by 2020. But growth brings its challenges in all areas – central to which is
people.

We are in the service business – but finding qualified staff, dedicated staff,
staff with passion and professionalism is an on going battle and one that
will cause a correction to the industry in Indonesia if training and talent
development are not better addressed, and quickly.
But there are ways of working smarter too.

Alliances are one way – and this is another area we are active in – with
partnerships in place with major international computing firms, hotel
management schools and with sales, marketing and distribution companies.

COST CONTROL
This is another on going challenge for the hospitality industry as costs rise and
investors demand faster return on investment.
Labour costs with training and education brings with it more payroll
demands. Higher standards of living bring more payroll demands, as does the
internationalization of the labour market.

Another scarce commodity is energy.
As a hotel industry we need to become smarter as there continues to be
pressure on room rates and demands on product standards – as capital will
move to stronger investment sectors. In many ways, Indonesia has been a bit

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 51315

lucky with its strong economy and ability to contain costs. This has not been
the case in China and The Middle East, for example, where costs have risen
faster than revenue growth.

Technology could be an area where we can work smarter. By 2017, i’d
estimate that 50% of all bookings will be online. This offers great opportunities
to hoteliers, but also challenges as consumers literally have the world at their
fingertips.

DO WE HAVE A TOURISM CORRECTION IN STORE?
This is the big question – for which i’d say the answer is yes. However, it
is not a negative but a positive. We have to be ready to change, to move
and rethink. That is a positive and it will lead to profitability. But when is this
expected to happen? It may be already happening and will only be recognized
after the fact – like the GFC. It could be in the guise of restructing mergers
and acquisitions. There will be different investors and government pressures.
But my advice is not to ignore it but to embrace the change. Be prepared
to change and get back to basics. Make sure your costs and your product
is right, your sales and marketing is focused, your recruitment and training
plans are in place and your people want to work for you. Ensure that everyone
from the top to the bottom has a passion for the guest and professionalism
for the job. The elements that will trigger a correction are the challenges of
the system, the challenges of capital, the challenges of infrastructure, the
challenges of manpower and the challenges of the market.
If you are prepared, no correction will be too much of a challenge – but a
great opportunity.

11654| | PPRREESSIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

DECEMBER Dear Team,
2013
As The Year Draws To A Close, It Is A Time Of Reflection;
WEEK 1-3 Of Appreciation; Of Analysis; And Planning For The Next Year.

2014 has been a huge year for Swiss-Belhotel International as we have hit
a record of over 125 hotels and projects. It has been our biggest year ever
of development and expansion with new hotels opening in Indonesia and
The Middle East and new projects from Batumi, Georgia to Indonesia and
Brisbane, Australia. This week I have been in Brisbane and signed a 25 year
lease on a four star, hotel opening in 2016 and being $45 million (US Dollar)
exposure is by far the biggest single deal and investment in the history of
Swiss-Belhotel International.

I would like to express my appreciation for the support, the loyalty, the passion
and the professionalism of the team around me and in the teams in the many
operations within the Swiss-Belhotel International global group. Without you
all, Swiss-Belhotel International cannot manage and develop and be the
success it is today.

A big thank you to you all.

With our expansion, there have been challenges and this will continue
through 2015 when we will have a record number of openings – especially in
Indonesia. We will need even stronger passion and professionalism.

The last two years has seen further strengthening and development of our
management teams and this will continue. It is great to have all my three sons
working with me. I appreciate the support and flexibility of our executives as
i move people around to meet our development and management needs. A
number of key group executives will be seconded to Indonesia to help and
support the huge number of openings in 2015.

The Middle East is entering a critical development phase and I will be focused
there for the next three months. China has exciticing opportunities which will
attract our focus.

Thank you all for being part of Swiss-Belhotel International. We need to
continually change the way we think, the way we work and the way we
manage. Our attitudes are the most critical element to success.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 51517

Make sure your attitude follows the Swiss-Belhotel attitude
Of team work
Of being prepared to learn
Of being prepared to change
Of being prepared to be flexible
Of being prepared to support your colleagues which will guarantee success
of us all
Of the business; of SBI and of yourself – in that order
It is an honour to be your Chairman & President of Swiss-Belhotel
International, a privilege I am thankful for every day in every way.
2015 will be our best year ever – this is not a hope but a determined decision.

Merry Christmas
And Happy New Year
To you, your families and your friends.
Enjoy a blessed holiday

DECEMBER Dear Team,
2013
As The Year Draws To A Close, It Is A Time Of Reflection;
WEEK 4 Of Appreciation; Of Analysis; And Planning For The Next Year.

2014 has been a huge year for Swiss-Belhotel International as we have hit
a record of over 125 hotels and projects. It has been our biggest year ever
of development and expansion with new hotels opening in Indonesia and
The Middle East and new projects from Batumi, Georgia to Indonesia and
Brisbane, Australia. This week I have been in Brisbane and signed a 25 year
lease on a four star, hotel opening in 2016 and being $45 million (US Dollar)
exposure is by far the biggest single deal and investment in the history of
Swiss-Belhotel International.

I would like to express my appreciation for the support, the loyalty, the passion
and the professionalism of the team around me and in the teams in the many
operations within the Swiss-Belhotel International global group. Without you
all, Swiss-Belhotel International cannot manage and develop and be the
success it is today.

A big thank you to you all.

11856| | PPRREESSIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

With our expansion, there have been challenges and this will continue
through 2015 when we will have a record number of openings – especially in
Indonesia. We will need even stronger passion and professionalism.

The last two years has seen further strengthening and development of our
management teams and this will continue. It is great to have all my three sons
working with me. I appreciate the support and flexibility of our executives as
i move people around to meet our development and management needs. A
number of key group executives will be seconded to Indonesia to help and
support the huge number of openings in 2015.

The Middle East is entering a critical development phase and I will be focused
there for the next three months. China has exciticing opportunities which will
attract our focus.

Thank you all for being part of Swiss-Belhotel International. We need to
continually change the way we think, the way we work and the way we
manage. Our attitudes are the most critical element to success.

Make sure your attitude follows the Swiss-Belhotel attitude
Of team work
Of being prepared to learn
Of being prepared to change
Of being prepared to be flexible
Of being prepared to support your colleagues which will guarantee success
of us all
Of the business; of SBI and of yourself – in that order
It is an honour to be your Chairman & President of Swiss-Belhotel
International, a privilege I am thankful for every day in every way.
2015 will be our best year ever – this is not a hope but a determined decision.

Merry Christmas
And Happy New Year
To you, your families and your friends.
Enjoy a blessed holiday

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 51719

JANUARY New Year Message From The President
2014
Dear Team,
WEEK 1-2 Being in New Zealand, we were the first country in the world to start the new
day.
2015 will be a watershed year for Swiss-Belhotel International.
The changes I have set in 2014 will continue and must continue.
I am very confident that we will have a record year and this will require
teamwork and team thinking.
It is so sad that we have yet another air disaster with the recent Air Asia crash
and it again shows the need for careful and responsible management. Some
of our hotels in the Kalimantan area are involved in supporting the recovery
mission.
I hope you are all having a welcomed break.
Prepare yourselves to think differently, to be real leaders and real team
members.
I will be making a series of announcements over the next few weeks as we
streng then and restructure.
Thank you all for your continuing Passion and Professionalism and your
support and loyalty.
Happy New Year – let’s make 2015 prosperouse.

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JANUARY 2015 will be a challenging year for the hotel and hospitality industry in Asia/
2015 Pacific, China, and The Middle East – the three main areas where Swiss-Bel-
hotel International manages hotels and resorts.
WEEK 3-4
For Swiss-Belhotel International, 2015 will be a big expansion year with over
25 hotels and projects opening plus a number of take-overs. This is huge
and will take our Group to over 130 hotels and projects in 15 countries. We
have of course been putting in strategies and structures to handle this growth
which has included restructuring our management teams, bringing on new
executives with depth and experience in the international hotel industry and
investing in critical areas of e-commerce, information technology and product
standards. Swiss-Belhotel International now has nine international brands.

To manage the Group culture and develop the team commitment around our
philosophy of “Passion & Professionalism” is a challenge with such growth but
i am pleased to see that my team and operational executives are stepping up
and showing commitment.

For the industry globally, with the “economic cool off” of China – the new
mega travel and hospitality market of the world – there will be a flow-on effect
to the global hotel and hospitality industry and this will be compounded by
the number of new hotel operations coming on-line especially in Indonesia, in
China, in the Maldives and in The Middle East – four areas where Swiss-Bel-
hotel International is focusing its growth on in 2015. However these market
challenges will only be temporary with 2016 becoming a record year in the
industry due to the growth of 2015 and the “recovery” of China plus the
expansion of the emerging economies of Indonesia, Asia generally and The
Middle East.

There will always be political challenges like we are experiencing in The Middle
East and Russia. There will always be the challenges of disturbances (social
and political) and travel calamities that we have experienced in 2014. But we
must be prepared to handle such challenges professionally and to also be
economically responsible in managing the financial impacts of such events
in and on our business. We are seeing situations compounded and further
exasperated by instability in currency and economic trends such as we have
seen with the Indonesian Rupiah, the Russian Rouble, the price of the oil and
the fluctuations in the international commodity markets. The strengthening of
the United States economy is a positive light on the horison for 2015.

Managing businesses responsibly and delivering profitability and return on

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investment to owners and investors is perhaps the single most difficult part
of the hotel business and must be achieved regardless of the market or eco-
nomic pressures. This is perhaps the biggest area of weakness in international
hoteling and requires management companies and hotel executives to take
on real responsibility and accountability. This is an area where graduates
receive the least training at international hotel management schools. This
is an area as Chairman & President of Swiss-Belhotel International that i
spend most of my time discussing and analysing with my senior executives.
Accountability and identifying quantifiable KPI’s with my Executives is arguably
the most challenging aspect of my management as self accountability is so
often not seen as important management responsibility.

I am very confident that 2015 will be a great success for the industry and for
Swiss-Belhotel International it will be a record year. But we must be more
business savvy and really focus on the business, on the product and on the
profits. There has been a tendency in the industry over the last decade to
assume that profits will automatically flow from business growth. This is not
necessarily true.

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FEBRUARY Gmf ’s Message On Online Reputation
2015
Team,
WEEK 1-4 I hope you all use our online reputation tool.
This again is huge investment in money and time by Swiss-Belhotel Inter-
national. This really shows what people think of you – better than guests
questionnaires. Make sure you lead your hotel with true Passion and Profes-
sionalism. It is interesting the rankings are a DIRECT reflection of the financial
success of the hotel. Lets make 2015 a year of achievement when 2014
showed a 70% under budget factor.
Thanks for being part of the SBI team.

MARCH The Birth Of A New Brand
2015
What an exciting week!
WEEK 1-2 The very first Zest Hotel has opened in Bogor on the outskirts of Jakarta
I was so proud to attend the opening and “feel the vibration”
The staff were so excited
Green t-shirts and wide smile everywhere
Congratulations to Hotel Manager, Dian Verani, and your team
Yes as the Zest song goes your are all “Simply the best”
Well done
We are flying again

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIDIDEENNTT’’SS DDIAIARRYY || 1523

MARCH Dear Team,
2015 Remember we are a management company
Swiss-Belhotel International is a management company not a project compa-
WEEK 3-4 ny
Our responsibility is to deliver financial returns and to meet the budget for the
owners.
The owners have made an investment based on our financial projections
Management is the responsibility of the whole team from the porters and
housemaids to myself as President.
They pay our salaries and fees on the basis of delivering.
We cannot apologise for below budget performance – we have to make.
Ensure you all appreciate your responsibility
Talk to your Supervisor, talk to your General Manager, talk to your Regional
Director, talk to your President if you have concerns regarding achieving,
regarding management, if you have concerns regarding achieving, regarding
management.
It is a huge responsibility
We cannot blame each other; we cannot blame the market
I need you support
I need you loyalty
I need your passion and professionalism
We succeed as a team
Success comes when we focus on achieving and not worry about who will
get the credit for the result
If Swiss-Belhotel International is not a success
You cannot be a success
If your hotel is not a success you cannot be a success
If your colleague is not a success you cannot be a success
If i am not a success for Swiss-Belhotel International as Chairman and Presi-
dent
You cannot be a success
If you think you run the company
If you think someone else runs the company
If you think your boss runs the company
Then we all fail
If you have the passion to believe
And the professionalism to achieve
Then we are all a success
Nothing in life is easy or automatic
I thank you all for being part of my team

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MAY An excerpt from the President’s interview with
2015
Forbes Indonesia Magazine, April 2015
WEEK 1-2
Competition in the hotel business in Indonesia has begun to heat up. Even in
Bali, the local government is considering a regulation that would set a floor
price in order to stop the ongoing price war. Gavin comments that competi-
tion is good to spark innovation and differentiation.
With its motto “affordable luxury” Swiss-Belhotel tries to differentiate by
offering affordable rates while still providing good amenities and services. Hu-
man resources play a key role, he says, because hotels are in the hospitality
business – customer satisfaction is critical to success. “I keep telling my HR
department that you have to train people to think, not train them how to do
something. Teach people to think of what others want or need,” he says.
He also sees that managing a good relationship with the hotel owner is
another crucial aspect. He says owners tend to bring their family to stay at the
hotel he manages, making the hotel an extension of their homes. Thus, the
owner’s wants and needs represents one of the most important demands for
the hotel’s customer service.
Moving forward, Gavin aims to keep the expansion going, with a continued
focus on Asia. This year, Gavin wants to open more than two dozen hotels,
including at least five more on Bali, and new ones in Iraq, Oman and Saudi
Arabia.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIDIDEENNTT’’SS DDIAIARRYY || 1725

MAY Farewell To A Great Employee
2015
Bonnie Wai
WEEK 3-4
Personal Assistant to the Chairman and President

At the end of May, my PA for 14 years – Bonnie Wai – is retiring to spend time
with her family.
This is a sad day for me and for Swiss-Belhotel International.
Bonnie has been an amazing lady and a huge support to me and SBI as we
have expanded at pace over the last few years.
Bonnie
Thank you for being such a loyal supporter.
Thank you for your passion and professionalism.
Thank you for your understanding and belief in SBI.
Thank you so much for your efficiency and your impeccable ethics.
Thank you for helping us to fly.
Enjoy having more time for the family.
“Your job is waiting for you”

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JUNE Dear Team,
2015 We are moving at pacel!!
Again i have travelled extensively this week covering Vietnam, Budapest,
WEEK 1-2 Dubai and Sydney.

THE LAST TWO WEEKS HAVE BEEN THE BIGGEST DEVELOPMENT
WEEKS IN THE HISTORY OF SBI
Opening of Swiss-Belhotel Tuban in Bali and Zest Hotel Jemur Sari in Suraba-
ya on 06 June 2015 – exciting and a great hotels – congratulations to all! Well
done Rai Arsana, General Manager for Swiss-Belhotel Tuban and Vida, Hotel
Manager for Zest Jemur Sari.
Oliver Faull has negotiated the biggest hotel deal in the history of SBI – 720
rooms and villas in Fiji being developed by a large Chinese consortium. Well
done, Oliver! We still have long negotiations ahead.
Opening of Zest Hotel Airport Jakarta – another exciting occasion and again
congratulations to the team – well done General Manager Deddy Sasmita!
Mr. Guillard and I with Jolly, our Project and Development Executive – Viet-
nam, reviewed a large resort development in Bai Dai, Nha Trang and a hotel
site in Nha Trang City – looks exciting - hope to sign in the next two months.
Looks very likely we will get projects in Hanoi, Vietnam.
Swiss-Belhotel International is returning to Vietnam with vengeance!!!!
There are exciting announcements coming up in Europe and The Middle East
and China is resurging again for SBI.
But the real asset of SBI is delivering a product and delivering strong profit,
and for this i need all of your passion and professionalism.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIDIDEENNTT’’SS DDIAIARRYY || 1927

JUNE Do Not Waste a Moment
2015
The President’s message to Ibu Harti, former Regional Director of Sales and
WEEK 3-4 Marketing who worked for SBI for 17 years firstly at Hotel Ciputra Jakarta and
then Regional Office-Indonesia.

Harti,
I am sure God will listen to your prayer
You have found someone to love and be loved by you
Which is very special
My little poem i have written especially for you.....

Do not waste a moment in time
And love and enjoy every moment
Do not waste a moment in life
And love and enjoy every day
Do not waste a moment in thought
And love and enjoy every feeling
Do not waste a moment in speaking
And love and enjoy every communication
Do not waste a moment in regret
And love and enjoy every every day
Do not waste a moment in tears
And love and enjoy every smile
Do not waste a moment in judgement
And love and enjoy everyone
Do not waste a moment ever
And love and enjoy the opportunity
Yesterday has gone
Today is the moment
Tomorrow is the dream
Harti your special day is for you and John
Your special life is for you both
Enjoy – my thoughts and prayers are with you both

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JULY Passion And Professionalism Drives
2015
Swiss-Belhotel International
WEEK 1-2
An interview of the President by Bangkok Post

– 29 June 2015

“I started to travel when i had nothing. You don’t need a rich pocket to travel,
you just need to have a rich brain, and that’s life,” the 67-year old Kiwi told
Asia Focus as he relaxed at Swiss-Belhotel Tuban, his newly opened four-star
affordable luxury hotel in Bali. “If you have a rich brain, you can do anything.”
His first career in Hong Kong helped pave the way for his life-long journey in
the hospitality industry – from being a financial controller with the Peninsula
Group to joining Australia-based Kingsgate International as Chief Executive.
“When you leave this world, your pocket is about the same size when you
came into this world. But you can leave a lot behind. That’s what life is all
about: leaving things behind for the next generations,” he said.
With that in mind, Mr. Faull keeps adding his property portfolio to ensure that
all levels of sophistication and guest needs are truly met.
Realising the potential of the budget hotel market, he established Zest Hotels
to differentiate itself from the Swiss-Belhotel brands. Zest Hotel is a two-star
designer hotel offering many of the group’s distinctive colour scheme, room
and furnishing designs.
“All the other brands in our Group, you feel Swiss-Belhotel but you don’t actu-
ally physically see Swiss-Belhotel,” he said, adding that Zest Hotel offers cost
efficiency and a greater opportunity to sell in the mass-budget market.
One of the hallmarks of Swiss-Belhotel International is the concept of Passion
and Professionalism. From the small on-the-ground staff to his top manage-
ment team, Mr.Faull has tried to ignite the fire of passion within the organisa-
tional culture to deliver services that exceed everyone’s expectations.
“When staff come and feel that they want to serve our guest and make them
feel happy, that is Passion and Passion comes from the heart. Simple.”

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JULY Let’s Get Excited
2015
Let’s Get Marketing
WEEK 3-4
Do not listen to why it cannot be done – look at why it can be done. We got
Wyndham into Swiss-Belresort Watu Jimbar from our Bay View hotel because
I said to David Wray, Senior Executive of Wyndham, Australia, what do you
want – after we had told ourselves that because we do not have apartments
they would not use us.
I have introduced Swiss-SuperSuite, a marketing element to drive revenue
levels to all room classifications. At this stage it has only been introduced at
The York by Swiss-Belhotel, Sydney.

I WANT THE SWISS-SUPERSUITE TO BE A ROOM BRAND IN THE APPRO-
PRIATE SBI PROPERTY.
We will have Swiss-SuperSuites micro site on our website to drive special
business – linked to our honeymoon micro site and other special micro sites.
My objective of the Swiss-SuperSuite are:
1. To drive revenue and RevPar
2. To “upgrade” our approach to room types
3. To have a product to upgrade for special guests
4. To help “pull up” our present pricing and room categories
5. To show the guest we care
6. To be guest orientated
7. To start thinking about our product and our guest
8. To provide extra services and charge for them
9. To have a touch of Swiss
10. To feel welcome when you go into our special Swiss-SuperSuites – Swiss
give away basket; a Bernie; extra mini bar items; a welcome candle; special
bathroom feeling; sell the experience; make people want to come back; make
people feel special; show the guest we have feelings and love
So often our services look bland
Let’s get some excitement into our product
Let’s love our guest, let’s love our hotels, let’s love SBI.
Show the owners we do have ideas; that we do have marketing ideas; that
we do have selling ideas.

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AUGUST SBI GMs’ CONFERENCE
2015
AND UNIVERSITY
WEEK 1-2
I am excited to confirm that the 2015 GM’s Conference and University will
be on November 11-15, 2015 at Swiss-Belhotel Mangga Besar, Jakarta,
Indonesia.
This is a must-attend event and every GM must attend – there is no choice.
If there are issues with your owners, please discuss with me ASAP. But tell the
owners how important this annual event is and it is critical for GM’s training
and updating and that you WANT to go.
I have added the word university to the conference title so there is a focus on
training and learning.
This is a working event and the whole programme will be focused on partici-
patory workshops.
A tentative programme will be issued next month.
With the huge performance challenges a large percentage of our operations
and projects have experienced over the last 2 years, this conference university
will be the most important for learning and to change the way we think.
Our financial performance over the last 12 months shows that we are too slow
to see trends, too slow to identify our market challenges; too slow to change;
too slow to accept responsibility;
Be ready to learn and change; make sure you want to learn and change.
The easiest element in business to change is oneself.

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SEPTEMBER The President’s Message To The Hotel Owners
2015
On A Recent Opening
WEEK 1-2
It is so exciting to open a new hotel which has taken years of planning and
construction to complete.
It is so exciting to have an asset like a hotel, which you can enjoy and to
which you can invite business colleagues, family and friends.
I know you and your company has put in huge effort and huge investment to
have the asset that you open today.
I sincerely apologise for not being able to attend due to prior commitments
in New Zealand, but i will visit the hotel in mid September when i will be in
Jakarta. If convenient i would like to meet with you both.
Mr. Guillad will represent Swiss-Belhotel International as well as my eldest
son Matthew Faull who is our Senior Vice President IT and E-Commerce. My
youngest son Edward Faull, Group Director Technical Services may also be
attending.
I really appreciate the support and confidence you give Swiss-Belhotel
International in being your management partner in your beautiful hotel. I
have heard very complimentary reports from my team about the design and
presentation of the hotel, especially the public areas. With our Passion and
Professionalism we will make every effort to ensure the financial and opera-
tional success of your investment and i look forward to a long and successful
business partnership with your company.
Once again congratulations and my apologies for missing this most important
occasion

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SEPTEMBER The Chairman’s Thank You Note Upon Receiving
2015
Congratulatory Message From The Team For His
WEEK 3-4
New Zealand Recognition

Team,
Thank you for your congratulations.
Yes it is an honour.
However, it is an honour for you all.
The award is decided anonymously.
But it was in recognition of what i have done with Swiss-Belhotel International
– which is really what all of you have done – so it is your award.
It was in recognition of what I had contributed to the accounting profession; to
charities; for contributions to society.
So again, it is your reward as without you all i could not have made these
contributions.
If i was by myself – i would have not been recognised – and i would be by
myself.
I was recognised because i was with you all.
Thank you all for your Passion and Professionalism.
Regards and appreciation to my huge family from your Pressident; your
colleague; your friend.

OCTOBER A message to CWS after an excellent
2015
Housekeeping Report as they strive for perfection
WEEK 1-2
Perfection is a goal which can never be reached
But is the only goal if one is to succeed
Perfection is the dream
But guest satisfaction lets you know that you are going in the right direction
Never give up on perfection
Never give up on a dream
It is your dream team that will make it all happen

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 11533

OCTOBER An Excerpt from NZ Herald’s 9 Nov 2015 –
2015
“A royal tea party for New Plymouth”
WEEK 3-4
His Royal Highness spoke with farm owner Gavin Faull about the farm, which
is recognised as one of the leading dairy farms in Australasia.
Speaking after the visit, Mr Faull said it had been a fantastic day and he had
found Prince Charles to be very knowledgeable about farming.
“You can’t bluff him, he knows the issues facing dairy farming and he asked
lots of good questions about the issues dairy farmers are facing in New
Zealand.”
Jeremy Thomson, a farmer and riparian planting expert, accompanied the
prince on a drive to an area of established riparian planting on the farm.
Mr. Thomson said Prince Charles asked questions about the types of trees
planted and if they had commercial value as well as environmental.
Prince Charles had a cup of tea while talking to dairy representatives at the
farm. The tea was made by Bianca Richter and Lynne Payne, who both used
to work at the farm.
“We volunteered to do this today.” Said Ms. Payne, adding they were nervous
when it came to making the tea.
“We used two tea bags of organic earl gray, and served it with a little bit of
milk and then a good teaspoon of organic honey.”
Ms. Richter had the honour of taking it to the prince and said her hands were
shaking. “He drank it though, so it must have been okay.”
Prince Charles was then invited to plant a native kauri tree to mark his visit.
Watched by pupils from Tikorangi school, the prince planted the tree and
spoke to the children.
“At least you don’t have to go back to school after this.” He told them, before
asking if they had homework.
He expressed surprise when they said they didn’t.
For Camdyn Johnson, 5, meeting a “real live prince” was very exciting, al-
though “he wasn’t wearing a crown”.
Prince Charles then spoke with members of the small crowd who had gath-
ered at the farm fence. He took particular interest in three horses who stood
amongst the people.
Mr. Jupp said speaking to Prince Charles was a great experience, adding “he
has a good sense of humour, very nice to talk to.”

Whanganui woman Merenia Donne was up at 04:00 AM to drive to New
Plymouth in the hope of meeting Prince Charles and his wife Camilla.
With her was Rica, the canine companion who helps her since her head injury.

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Ms. Donne is the founder of the Kotuku Foundation Assistance Animals

Aotearoa. Most of the foundation’s animals help people with life threatening

conditions - such as people with diabetes who can go into shock if their

blood sugar gets too low.

She was especially hoping to meet Camilla, who is the patron of a similar

organisation in the United Kingdom, Medical Detection Dogs. And she knows

the duchess likes dogs and had met the royal couple in Feilding a few years

ago.

So it was a great thrill when Camilla made a beeline for her and the dog. She

accepted Ms. Donne’s gift of photographs and Rica attempted to

shake hands with her.

The royal pair remembered Ms Donne and had time for a quick chat.

Another among the hundreds lining the road out of the park was Nicole McK-

ay, who gave Charles her 5-month-old baby, Alba, to hold.

“It was wonderful. I’m still shaking,” she said afterward.

Lauraine and Brian Vincent have been in New Zealand for 11 years but for-

merly lived in Birmingham, where Mrs. Vincent worked for The Prince’s Trust,

which helps young people who need more skills.

NOVEMBER An excerpt from Swiss-Belresort Tuyen Lam Da
2015
Lat, Vietnam’s opening – 28 November 2015
WEEK 3-4
Swiss-Belhotel International is excited to officially open this modern upscale
resort sitting beautifully in Vietnam’s “City of flowers”. Our strong commitment
to Passion and Professionalism will ensure that guests will not only appreciate
the hotel’s magnificent natural setting but most importantly get a truly memo-
rable resort experience,” Swiss-Belhotel International Chairman and President
Gavin Faull said.
Surrounded by hills, Swiss-Belresort Tuyen Lam Da Lat provides 151 rooms
and suites offering a view of an exceptional landscape provided by the 18-
hole golf course and 5 meeting rooms perfect for small meetings and special
events that can accommodate up to 300 persons. At the resort eagerly
promotes wellness, guests can stroll in designated jogging/walking trail, learn
simple healthy dishes from cooking classes, indulge in total relaxation and
serenity through scheduled yoga sessions and enjoy fresh and sumptuous
cuisines at Swiss-Cafe Restaurant.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 11735

DECEMBER The President’s Message to the HR and Learning
2015
Development Conference – 8 December 2015,
WEEK 1-2
Jakarta, Indonesia

Dear Team
As Christmas is upon us and the year draws to a close it is a time of reflection
and analysis.
It is a time to be thankful for our friends and family who have supported us all
through another year.
It is a time of appreciation in being members of an exciting team and an
exciting company
Swiss-Belhotel International.
It is a time to reflect on what we have learnt: what we have achieved and
where we could have done better.
It is a time of personal assessment and reflection on what we expect to
achieve personally for 2016.
2015 has been a watershed year for Swiss-Belhotel International.
There have never been so many challenges; so many issues; so many chang-
es and 2016 will be a continuation of more of the same.
We must reflect on....

Where we could have done better;
Where we should have done better;
And where we will do better.
We can blame the economy; we can blame the government; we can blame
our colleagues and peers; we can blame the world conditions...
We can blame President Obama; President Putin; Our Political Leaders; our
corporate leaders; we can blame Gavin Faull but in the end we have to look at
ourselves.
You hear me say so often there is only one person to blame; there is only one
person you can change and that is yourself.
2016 I will expect you all to step up and meet the challenges of your oper-
ations; of your responsibility; of your accountability – this was missing in a
number of situations in 2015.
I will be leading more expansion.
I will be leading development with management and executives.
I will be leading business consolidation and drive to achieve the budget goals
that have been set.
Failure is lonely: success is collective.
I will be announcing more restructuring during 2016 and it will be exciting.

13618| |PRPRESESIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

I am happy where we have arrived at in 2015 – not satisfied but happy.
The purchase of our first hotel in New Zealand has been a huge achievement.
The taking on a long term lease in Brisbane has been a huge achievement
with one to come in 2016.
Looking at investment opportunities will be on our agenda for 2016.
I thank you all for your support; for your dedication; for your commitment.
But this is also what I expect.
Total Passion and Professionalism is our minimum standard.
I wish you all a Merry Christmas and a happy new year. 2016 will be exciting.
Make sure you are part of the excitement – it is up to you – not up to me as
President. I am the leader and the “train driver”. It is up to you whether you
get on board.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 11937

DECEMBER Dear Team
2015 As Christmas is upon us and the year draws to a close it is a time of reflection
and analysis.
CHRISTMAS It is a time to be thankful for our friends and family who have supported us all
through another year.
It is a time of appreciation in being members of an exciting team and an
exciting company
Swiss-Belhotel International.
It is a time to reflect on what we have learnt: what we have achieved and
where we could have done better.
It is a time of personal assessment and reflection on what we expect to
achieve personally for 2016.
2015 has been a watershed year for Swiss-Belhotel International.
There have never been so many challenges; so many issues; so many chang-
es and 2016 will be a continuation of more of the same.
We must reflect on....

Where we could have done better;
Where we should have done better;
And where we will do better.
We can blame the economy; we can blame the government; we can blame
our colleagues and peers; we can blame the world conditions...
We can blame President Obama; President Putin; Our Political Leaders; our
corporate leaders; we can blame Gavin Faull but in the end we have to look at
ourselves.
You hear me say so often there is only one person to blame; there is only one
person you can change and that is yourself.
2016 I will expect you all to step up and meet the challenges of your oper-
ations; of your responsibility; of your accountability – this was missing in a
number of situations in 2015.
I will be leading more expansion.
I will be leading development with management and executives.
I will be leading business consolidation and drive to achieve the budget goals
that have been set.
Failure is lonely: success is collective.
I will be announcing more restructuring during 2016 and it will be exciting.
I am happy where we have arrived at in 2015 – not satisfied but happy.
The purchase of our first hotel in New Zealand has been a huge achievement.
The taking on a long term lease in Brisbane has been a huge achievement
with one to come in 2016.
Looking at investment opportunities will be on our agenda for 2016.
I thank you all for your support; for your dedication; for your commitment.

13820| |PRPRESESIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

But this is also what I expect.
Total Passion and Professionalism is our minimum standard.
I wish you all a Merry Christmas and a happy new year. 2016 will be exciting.
Make sure you are part of the excitement – it is up to you – not up to me as
President. I am the leader and the “train driver”. It is up to you whether you
get on board.

DECEMBER 2015 Was A Year Of Records And Achievements.
2015
Although Swiss-Belhotel International faced many challenges during 2015
WEEK 3-4 due to financial pressures of market contractions and delayed openings
compounded by political instability in some areas, still for Swiss-Belhotel
International it was a year of records and achievements.
We opened and took over 15 hotels :
OPENING
Vietnam
1. Swiss-Belresort Tuyen Lam, Da Lat
Indonesia
- Bali
1. Swiss-Belhotel Tuban
2. Swiss-Belhotel Petitenget
- Jakarta
1. Swiss-Belresidence Kalibata
2. Swiss-Belinn Simatupang
3. Swiss-Belhotel Airport
4. Zest Hotel Airport
- West Java
1. Hotel Ciputra Cibubur
2. Swiss-Belinn Karawang
3. Zest Hotel Bogor
4. Zest Hotel Bandung
- Central Java
1. Swiss-Belinn Saripetojo, Solo
- Yogyakarta
1. Zest Hotel Yogyakarta
- West Java
1. Zest Hotel Jemur Sari, Surabaya

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 211379

14022| |PRPRESESIDIDEENNTT’S’SDDIAIARRYY - Riau Islands
1. Zest Hotel Harbour Bay, Batam

TAKE OVER
United Arab Emirates
1. Swiss-Belhotel Corniche, Abu Dhabi
Turkey
1. Grand Swiss-Belhotel Celik Palas
Saudi Arabia
1. Swiss-Belhotel Sharjah
We opened an office in Europe and took on a number of new executives.
We were recognized with a number of awards:
Indonesia
1. SBI for 6 years in a row awarded as Indonesia’a Leading Global Hotel
Chain at the Indonesian Travel & Tourism Award (ITTA) 2015/2016
2. Swiss-Belinn Airport – SIAL Interfood 2015 Exhibition & Cooking Competition
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4FDPOE8JOOFS
4JMWFS.FEBMGPSJOEJWJEVBM$IFG$IBMMFOHF
(Seafood)
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3. Swiss-Belinn SKA Pekanbaru awarded as the Best 3-Star hotel in Pekan-
baru in the Pariwisata Award 2015
4. Zest Hotel Airport, Jakarta winning the Indonesia’s Leading Airport Hotel at
the Indonesian Travel & Tourism Award (ITTA) 2015/2016
Bahrain
1. Swiss-Belhotel Seef awarded as Best 4-star hotel in the Bahrain Food and
Travel Awards 2015
Chairman & President
1. Fellow of the Australian & New Zealand Institute of Accountants
2. New Zealander of the Year Awards – Local Hero Award Taranaki region
SBI listed in the Hotels Magazine world hotel group rankings, from 215 in
2013 to 148 in 2014.
Our brands continue to expand (now 10) and achieve global recognition.
Our zest brand is focused on going global in 2016 and 2017.
Thank you all for helping us to achieves these goals.
But our real success is in what we achieve tomorrow – not what we achieved
yesterday.
And for this you all need to display total Passion and Professionalism.
Make sure you are a P&P person.
Make sure your colleague is a P&P person.
Make sure your peers are a P&P person.
Together we will fly.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

JANUARY 2015 Was A Year Of Records And Achievements.
2016
2016 has arrived and this will be a year of change, action and development
WEEK 1-2 for Swiss-Belhotel International and Zest Hotel International.

This year will be our biggest expansion, as we continue to grow in Indonesia
and the movement of expansion in New Zealand, Australia, Asia and The
Middle East will hit breakneck speed.

We expect to sign at least 5 properties in Europe, 15 in The Middle East and
develop our real estate investment in Australia and New Zealand in the next 6
months.

We will be taking on more key executives at Regional and Group level to meet
and manage this expansion.

We will be developing our systems and procedures to meet the challenges
of the new economics. Protel Computer and PMS systems – international
systems and equipment - will be the only systems installed in our hotels so
that we can manage and have management information to make informed
and profitable management decisions to meet the challenging economic
demands.

2016 will see a change in our management systems but more importantly
management attitude and professional commitment.

I need you all to step up and support change.

I need you all to learn and match the Passion and Professioanalism of
Swiss-Belhotel International.

Every executive has a huge future and opportunity with Swiss-Belhotel Inter-
national but must embrace change to succeed.

Swiss-Belhotel International will see at least a 50% increase in revenue across
the Group which is tremendous growth.

I need you to help and support me.

Help me drive this change.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 21341

Be part of this excitement and this new future.

If we keep doing what we have always done we will keep getting the same
average results, which we have been getting.

Come fly with me.

Come and enjoy the fun of change and development.

Come and be part of our culture with new ideas and new ideals.
Have fun and enjoy your work-if you are not you have to change.

Again, I say Success is a collective and sharing experience; failure is a lonely
and individual experience.

Swiss-Belhotel International and Zest Hotels International will be on the global
lips of travellers and hotel investors alike in 2016.

Watch me.

Watch us.

Join in and be part of the success.

14224| |PRPRESESIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

JANUARY Dear Team,
2016
I am excited to announce that the purchase of the business and real estate
WEEK 3-4 of Swiss-Belresort Coronet Peak, Queenstown, New Zealand was completed
recently. The acquisition was made with the support of New Zealand banks
and internal cash resources of Swiss-Belhotel International.

This is a strategic move and strengthens the asset position of Swiss-Belhotel
International.
This is the first real estate investment that has been made by the International
hotel management company and is an endorsement of its confidence in the
tourism industry of Queenstown and New Zealand.

Swiss-Belhotel International will be totally refurbishing the hotel over the next
18 months which will also include the bar and restaurant. It is expected that
over NZD 1.5 million will be invested. It is the objective to present the hotel as
a truly international operation as well as developing the restaurant, bar and
recreational facilities in a way that the local market will use and appreciate.

Swiss-Belresort Coronet Peak is well located near the Coronet Peak ski fields
as well as the Shotover Jet operation. The resort has 78 rooms and suites,
the only seven lane bowling alley in Queenstown, two bars, two restaurants
and supporting facilities including gardens and recreation areas. The hotel
offers great facilities for both tourists and locals and is ideal for the family
traveler.

Swiss-Belhotel International will continue to look for the appropriate real estate
or business acquisition investments globally but in particular in New Zealand
and Australia. Swiss-Belhotel International is also interested in acquiring
management rights.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 21543

JANUARY Dear Team,
2016
I am excited to announce that the purchase of the business and real estate
WEEK 3-4 of Swiss-Belresort Coronet Peak, Queenstown, New Zealand was completed
recently. The acquisition was made with the support of New Zealand banks
and internal cash resources of Swiss-Belhotel International.

This is a strategic move and strengthens the asset position of Swiss-Belhotel
International.
This is the first real estate investment that has been made by the International
hotel management company and is an endorsement of its confidence in the
tourism industry of Queenstown and New Zealand.

Swiss-Belhotel International will be totally refurbishing the hotel over the next
18 months which will also include the bar and restaurant. It is expected that
over NZD 1.5 million will be invested. It is the objective to present the hotel as
a truly international operation as well as developing the restaurant, bar and
recreational facilities in a way that the local market will use and appreciate.

Swiss-Belresort Coronet Peak is well located near the Coronet Peak ski fields
as well as the Shotover Jet operation. The resort has 78 rooms and suites,
the only seven lane bowling alley in Queenstown, two bars, two restaurants
and supporting facilities including gardens and recreation areas. The hotel
offers great facilities for both tourists and locals and is ideal for the family
traveler.

Swiss-Belhotel International will continue to look for the appropriate real estate
or business acquisition investments globally but in particular in New Zealand
and Australia. Swiss-Belhotel International is also interested in acquiring
management rights.

FEBRUARY Well done team.
2016
I know the challenges of today’s business environment creates additional
WEEK 2-4 pressures, but Passion and Professionalism will always overcome.

Always remember and always display leadership.

14426| |PRPRESESIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

MARCH A personal note sent to Emmanuel Guillard on
2016 the recent death of his father which I would like
to share with you all.
WEEK 1-2
Dear Emmanuel,

My sincere condolences on the passing of your father.

I know what a difficult time it has been over the past few months especially
with the distance of living in Jakarta and trying to support your mother under
such circumstances.

You have been a most dedicated and superlative son.

The next few days and weeks will be a time of reflection and appreciation of
your father’s life and what he has done for you and your family.

I know he was a very proud father and he expressed this to me more than
once on the occasions I met him in Indonesia. I could feel the pride and
respect that he had for you.
This is the ultimate feeling and relationship between a father and a son.

Now is the time to help your mother through the most difficult period in her
life.
It is a time and process we all must handle – but the most important element
is the support, help, respect and affection of family and friends, not only in
the next days and weeks but the next months and years.

Emmanuel

It is a time to reflect and be proud of your father
It is a time to reflect and be proud of your parents
It is a time to appreciate and thank your parents
It is a time to thank you father by thanking and supporting your mother.

My apologies for not being in Paris to support you at this time, but my
thoughts and prayers and sympathy are with you at this difficult time.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 21745

As is the thoughts and prayers and sympathy of the whole of Swiss-Belhotel
International.
From every executive
From every staff member
From every client
From every Owner
From every SBI hotel
Take strength from this world of sympathy and support to help you through
the coming days, coming week and coming months.

Please pass on my sincere condolences to your mother

Best Regards and deepest sympathy

Gavin

MARCH Everyone must see each other as a help not as a threat.
2016
Shake the tree to get rid of the monkeys.
WEEK 3-4 But make sure you do not shake out the coconuts as they are the future.
so if you shake out the coconuts you kill the business.

Coconuts grow and bear fruit.

APRIL An excerpt from the President’s message after the
2016 opening of Swiss-Belhotel Jambi

WEEK 1-2 A very successful opening and your hotel has a great feel.

Thank all your staff for a great day – and I was so impressed by their Passion
and Professionalism. I was so impressed Ivan that after 4 months with
Swiss-Belhotel International you have the already developed SBI Passion and
Professionalism in you attitude and presentation.

14628| |PRPRESESIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

APRIL Thank You
2016
Thank you all for coming
WEEK 3-4 Thank you all for wanting to come to this conference
When I see you all excited to learn and look forward to what the conference
can offer, And more importantly eager to go back to your operations and
implement things you learn, This makes me proud of you all.

This makes me proud that we are all part of the family, the SBI family.
We have had challenges in 2015, I know however that as long as we work
together as one team with the same vision and goal, we will surpass all these
challenges.
The 3-day conference equipped you all with the tools needed to face the
challenge this 2016 .

And as I mentioned, if you have any questions, need any help, write to me, tell
me
As your success is my success and more importantly is our success.
Let’s continue to move forward with one goal in mind, to work with passion
and professionalism so your goal, the owner’s goal and the goal of SBI is
achieved.
Again, I thank each one of you and please extend my thank you to your own-
ers for believing in you and in SBI and what this conference can offer.
Thank you for your passion and professionalism.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 21947

MAY An excerpt on the President’s Opening
2016
Message on the General Managers’ Conference
WEEK 1-2
2015/2016

Every day is a challenge
Every day is a demand
Every day must be a success
Every morning when I wake up
Without fail
I say to myself
I must do better than yesterday
I must change and have new ideas
Team I must challenge you
It is not easy
When one is being challenged on so many fronts
When it is difficult to identify friends, foes and enemies
When I say to myself what is that company; that owner; that person trying to
do to Swiss-Belhotel International

Swiss-Belhotel International had very small beginnings
James Tam had very small beginnings
I have very small beginnings
But we believed in Swiss-Belhotel International
Colleagues
You are my whakapapa – or heritage of Swiss-Belhotel
You are my whanu - or family of Swiss-Belhotel
I would like to play part of an *interview I recently did in New Zealand
So the new comers to SBI – may understand a bit more of our philosophy
and refresh the old team of where we have come from
We are a whanu
We are a family
We invite you to our family
It is not your choice it is our invitation
However it is your choice to leave the family
I lay down our challenge for 2016
I lay down a challenge for you all to work together
To network; to be a team; to challenge your comfort zones

14830| |PRPRESESIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL

MAY Team,
2016
How many times do I say we never talk about the guest in our project or
WEEK 3-4 operational meetings.

How many times I hear you all say what you want and not what the customer
wants.

This is why we still do not make budget and achieve as a team.

We are designing our first restaurant in Swiss-Belhotel Brisbane which thinks
of the guest – two seater tables; high tables; comfort; interesting etc etc

I will circulate the design when it is finished.

Team we have to start changing ourselves and thinking.

JUNE Thoughts and observations of our Chairman
2016 and President

WEEK 1-2 10 THINGS THAT REQUIRE ZERO TALENT

1. Being on time
2. Work ethic
3. Effort
4. Body language
5. Energy
6. Attitude
7. Passion
8. Being Coachable
9. Doing Extra
10. Being prepared

These are the elements of Passion and Professionalism.

Please use the above as your personal checklist.

SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL PPRREESSIIDDEENNTT’S’SDDIAIARRYY || 31149

JUNE As we bid goodbye to our friend, our colleague, our family member, Mr. Ray
2016 Butler the song “Sailing” was played as his casket was sent to the crematori-
um by the department heads of Swiss-Belhotel Segara.

WEEK 3-4

JULY A training course will be awarded to an employee who wants to grow with
2016 Swiss-Belhotel International.

WEEK 1-2 The employee will be nominated by the General Manager or the VP. The
nominee will undergo a hands-on training session in all the department of his/
her hotel after his duty hours. The training program is now currently practiced
at Swiss-Belresort Watu Jimbar. The Senior Group Director - Training and
Learning Development, Ms. Gloria Llamas, will email the complete procedure
on the programme.

One employee (from the entire SBI properties) per month will be nominated
and announced by the Chairman and President in the President’s Reflection.

This employee will also be given the title as Passion and Professionalism
Ambassador.

After completing the training course, this employee will then be eligible to be
promoted within his department, within the hotel or in another SBI property.

15032| |PRPRESESIDIDEENNTT’S’SDDIAIARRYY SWISS-BELHOTEL INTERNATIONAL | ZEST HOTEL INTERNATIONAL