Legal disclaimer

This document is intended solely for the use of the Joyall LTD as a non commercial private research, reference and discussion document. Joyall LTD does not claim to be associated with, endorsed or sponsored by any other entity mentioned or illustrated in this document. Joyall LTD does not claim ownership of any of the images, text or illustrations in this document. The copyright of any information or pictures used remains with the original copyright holders. Further, this document is not intended to be an investment memorandum or public financial offering document in any way. Joyall LTD is not responsible or liable for the accuracy of the information contained herein. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited, may be unlawful, and at your own risk/liability. If you have received this document in error, please notify us immediately and then delete it from your system. 
 

Forward-Looking Statements in this presentation, which are not historical facts, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may include statements about our plans, strategies, occupancy and ADR trends, market share, margin trends, the number of properties we expect to open in the future, our expected adjusted SG&A expense, capital expenditures, investment spending, depreciation and amortization expense and interest expense estimates, financial performance, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “will,” “would” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Such forward-looking statements are necessarily based upon estimates and assumptions that, while considered reasonable by us and our management, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, among others, general economic uncertainty in key global markets, the rate and pace of economic recovery following economic downturns; levels of spending in business and leisure segments as well as consumer confidence; limited visibility with respect to future bookings; our ability to successfully achieve certain levels of operating profit; loss of key personnel; hostilities, or fear of hostilities, including future terrorist attacks, that affect logistics; travel-related accidents; natural or man-made disasters. 
 

The statements regarding to financials and any information and data expressed in this document were produced as of the date of writing and are subject to change without notice. Such statements are based on a multitude of factors which are subject to continuous change. Although the information and data herein are obtained from sources believed to be reliable, no representation is made that the information is accurate or complete. Joyall LTD does not guarantee the information and forecasts contained herein are exhaustive and decline any responsibility in this respect. In no jurisdiction, the present document is meant to be in any kind, a sale prospectus nor an offer, nor a buy recommendation, nor an advice to invest.