PANAMA, REPUBLIC OF PANAMA--(Marketwire - Feb. 12, 2013) - Thunderbird Resorts Inc. ("Thunderbird" or "Group") (FRANKFURT:4TR)(EURONEXT:TBIRD) the following revenues for January 2013. For a more detailed analysis of January 2013 revenue, please visit www.thunderbirdresorts.com and click on "January 2013 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)
|Total Consolidated Operating Revenues
|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 Reports.
- Consolidated operating revenues increased by 5.37% over January 2012 and were the second highest monthly revenues in 9 months. Revenues increased in all countries except in Costa Rica.
- Philippines revenues increased by 8.09% over January 2012, an increase of $0.33 million.
- Peru revenues increased by 13.22% over January 2012, an increase of $0.30 million.
- Costa Rica revenues decreased by 22.16% over January 2012, a decrease of $0.37 million. Key factors impacting Costa Rica revenues were the smoking ban imposed in Q2 2013, road construction work leading to certain of our properties and construction work in our Fiesta Presidente Casino. The Fiesta Presidente construction is now complete. 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 23.91% over January 2012, an increase of $0.22 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.