Thunderbird Resorts Inc.

FRANKFURT : 4TR
EURONEXT : TBIRD


Thunderbird Resorts Inc.

January 10, 2013 13:58 ET

Thunderbird Resorts Inc.: December 2012 Revenue Report

PANAMA, REPUBLIC OF PANAMA--(Marketwire - Jan. 10, 2013) - Thunderbird Resorts Inc. (FRANKFURT:4TR)(EURONEXT:TBIRD) ("Thunderbird" or "Group") reports the following revenues for December 2012. For a more detailed analysis of December 2012 revenue, please visit www.thunderbirdresorts.com and click on "December 2012 Revenue Report - Analysis" located on the home page under "News and Press Releases".

Thunderbird Resorts Inc. - Group-wide sales results by country (unaudited, in millions) December
2012
December
2011
Year-over-year
increase/(decrease)
Philippines 4.30 3.86 11.40%
Peru1 2.65 2.35 12.77%
Costa Rica 1.44 1.94 -25.77%
Nicaragua 1.26 1.07 17.76%
Total Consolidated Operating Revenues 9.65 9.22 4.66%

1 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; 2011 revenues consist of revenue from the Fiesta Hotel only plus management fees for the Thunderbird Hotel - Pardo and Thunderbird Hotel - Carrera.

  • Consolidated operating revenues increased by 4.66% over December 2011 and were the second highest monthly revenues in 2012. Revenues for 2012 were $107.87 million as compared to $109.30 million for 2011, a decrease of $1.43 million. Revenues increased in all countries except Costa Rica.
  • Philippines revenues increased by 11.40% over December 2011. Revenues for 2012 were $49.92 million as compared to $49.11 million for 2011, an increase of $0.81 million.
  • Peru revenues increased by 12.77% over December 2011 and continued the month-to-month growth trend that began in August. Revenues for 2012 were $28.99 million as compared to $28.07 million for 2011, an increase of $0.92 million.
  • Costa Rica revenues decreased by 25.77% over December 2011. Revenue in December was the highest since March 2012 and was up $240 thousand over November. Revenues for 2012 were $16.27 million as compared to $19.83 million for 2011, a decrease of $3.56 million. Key factors impacting Costa Rica revenues were the smoking ban imposed in Q2 2012, road construction work leading to certain of our properties and construction work in our Fiesta Presidente Casino. 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. The construction work at our Fiesta Presidente Casino was completed in December with small details to be completed in January 2013.
  • Nicaragua revenues increased by 17.76% over December 2011 and were the highest revenues in over 12 months. Revenues for 2012 were $12.69 million as compared to $12.29 million for 2011, an increase of $0.40 million.

Note: Revenues reported year-to-date are based on year-to-date average exchange rates and report same store revenues. 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.

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