Thunderbird Resorts Inc.: February 2013 Revenue Report
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Thunderbird Resorts Inc.: February 2013 Revenue Report
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PANAMA, REPUBLIC OF PANAMA--(Marketwire - March 20, 2013) - Thunderbird Resorts
Inc. ("Thunderbird" or "Group") (FRANKFURT:4TR)(EURONEXT:TBIRD) reports the
following revenues for February 2013. For a more detailed analysis of February
2013 revenue, please visit www.thunderbirdresorts.com and click on "February
2013 Revenue Report - Analysis" located on the home page under "News and Press
Releases".
+-------------------------------------+-----------+--------+-------------------+
|Thunderbird Resorts Inc. - Group-wide| | | |
| sales results by country | February|February| Year-over-year|
|(unaudited, in millions) |2013[2],[3]| 2012|increase/(decrease)|
+-------------------------------------+-----------+--------+-------------------+
|Philippines | 3.49| 4.08| -14.46%|
| | | | |
|Peru[1] | 2.23| 2.07| 7.73%|
| | | | |
|Costa Rica | 1.10| 1.56| -29.49%|
| | | | |
|Nicaragua | 1.07| 1.01| 5.94%|
+-------------------------------------+-----------+--------+-------------------+
|Total Consolidated Operating Revenues| 7.89| 8.72| -9.52%|
+-------------------------------------+-----------+--------+-------------------+
[1] 2013 and 2012 revenues consist of revenue from the Fiesta Hotel only plus
management fees for the Thunderbird Hotel - Pardo, Thunderbird Hotel - Carrera
and Thunderbird Hotel - El Pueblo.
[2] Effective January 1, 2013, IFRS 11 changed the way that joint ventures are
accounted for whereby proportional consolidation is no longer allowed and equity
accounting should be applied to joint ventures. Until further notice and for the
convenience of the reader and for the illustrative purposes of this monthly
revenue report, the Group has elected to continue to show the Costa Rican joint
venture proportional revenues, which may vary from the way that the Group will
account for these same revenues in our Interim and Annual Audited Financial
Statements.
[3] 2012 was a leap year, with 29 days in the month as compared to 28 days in
February 2013. This had a pro rata impact on revenue.
* Consolidated operating revenues decreased by 9.52% over February 2012, a
decrease of $0.83 million.
* Philippines revenues decreased by 14.46% over February 2012, a decrease of
$0.59 million.
* Peru revenues increased by 7.73% over February 2012, an increase of $0.16
million.
* Costa Rica revenues decreased by 29.49% over February 2012, a decrease of
$0.46 million. Key factors impacting Costa Rica revenues were the smoking
ban imposed in Q2 2012 and road construction work leading to certain of our
properties. The highway construction work that has affected our visitation
traffic during 2012 will be ongoing into 2013 with possible road closures as
further bridge repair is still required.
* Nicaragua revenues increased by 5.94% over February 2012, an increase of
$0.06 million.
Note: Revenues reported by month are based on monthly average exchange rates,
report same store revenues and are in USD million. "Hospitality" revenues
include revenues for rooms, F&B, events, hotel management fees and other
hospitality amenities. "Other" revenues include revenues from real estate leases
and construction. All revenue figures in this press release are expressed in US
dollars.
ABOUT THE COMPANY
We are an international provider of branded casino and hospitality services,
focused on markets in Asia and Latin America. Our mission is to "create
extraordinary experiences for our guests." Additional information about the
Group is available on its Website at www.thunderbirdresorts.com.
Cautionary Notice: This release contains certain forward-looking statements
within the meaning of the securities laws and regulations of various
international, federal, and state jurisdictions. All statements, other than
statements of historical fact, included herein, including without limitation,
statements regarding potential revenue and future plans and objectives of the
Group are forward-looking statements that involve risk and uncertainties. There
can be no assurances that such statements will prove to be accurate and actual
results could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the
Group's forward-looking statements include competitive pressures, unfavorable
changes in regulatory structures, and general risks associated with business,
all of which are disclosed under the heading "Risk Factors" and elsewhere in the
Group's documents filed from time-to-time with the AFM and other regulatory
authorities.
Contact Information
Contacts:
Thunderbird Resorts Inc.
Peter LeSar
Chief Financial Officer
(507) 223-1234
plesar(at)thunderbirdresorts.com
www.thunderbirdresorts.com
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thunderbird Resorts Inc. via Thomson Reuters ONE
[HUG#1686884]
Unternehmensinformation / Kurzprofil:
Datum: 20.03.2013 - 20:00 Uhr
Sprache: Deutsch
News-ID 241599
Anzahl Zeichen: 6598
contact information:
Town:
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Kategorie:
Business News
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