MANAGEMENT DISCUSSION & ANALYSIS REVIEW OF OPERATIONS THE TEMPLE HOUSE CHENGDU The Upper House The Opposite House At The Upper House, a 117-room luxury hotel at Pacific The Opposite House is a 99-room luxury hotel at Taikoo Li Place in Hong Kong, revenue per available room and Sanlitun, Beijing. Its occupancy and revenue per available occupancy rebounded strongly following the reopening of room improved strongly following the reopening of the border, with growth of international visitors. In 2023, the border. In 2023, the hotel received awards from the hotel was ranked number three in the Condé Nast Travel + Leisure. Jing Yaa Tang restaurant was awarded Traveler’s 2023 Readers’ Choice Awards for the Best Hotels with 1-star in the MICHELIN Guide Beijing 2023. in Hong Kong category. It also received awards from Travel + Leisure and TripAdvisor and DestinAsian, and was EAST Beijing ranked number four in The World’s 50 Best Hotels 2023. EAST Beijing is a 365-room lifestyle hotel at INDIGO in Beijing, in which the Company has a 50% interest. EAST Hong Kong Occupancy and revenue per available room rebounded At EAST Hong Kong, a 331-room hotel in Taikoo Shing, strongly following the resumption of international flights revenue per available room and occupancy increased after border reopening. The hotel was named Top City significantly following the reopening of the border. Condé Landmark Hotel Award of the Year by Target Magazine. Nast Traveler recognised the hotel as one of the best hotels in Hong Kong. 60