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25 OPERATING SEGMENTS (CONT’D)
The Stapled Group have 6 reportable segments, as described below. The reportable segments operate in 6 countries
and are managed separately because of the differences in operating and regulatory environment. For each of the
reportable segments, the BODs of the HBT Trustee-Manager and H-REIT Manager review internal management reports
on a monthly basis. The following summary describes the operations in each of the reportable segments:
• Singapore - the 6 Singapore properties (except for Claymore Connect) that are being leased and operated as
hotels
• New Zealand - the 1 New Zealand property that is being leased and operated as a hotel
• Australia - the 5 Australia properties that are being leased and operated as hotels
• Maldives - the 2 Maldives properties of which one that is being leased and operated as a resort and the remaining
one is operated under management contract
• Japan - the 2 Japan hotels that are being operated under management contract
• United Kingdom ("
UK
") - the 1 UK hotel that is being operated under management contract
Other operations include Claymore Connect which is being leased to individual tenants and operated as retail space.
Claymore Connect does not meet any of the quantitative thresholds for determining reportable segments.
Information regarding the results of each reportable segment is included below. Performance is measured based on
segment net property income, as included in the internal management reports that are reviewed by the BODs of the HBT
Trustee-Manager or H-REIT Manager. Segment net property income is used to measure performance as management
believes that such information is the most relevant in evaluating the results of its segments relative to other entities that
operate within the same industry.
NOTES TO THE FINANCIAL STATEMENTS
