Thunderbird Resorts Inc.: January 2013 Revenue Report
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Thunderbird Resorts Inc.: January 2013 Revenue Report
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PANAMA, REPUBLIC OF PANAMA--(Marketwire - February 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. - | | | Year-over-year |
| Group-wide sales results by country | January | January | increase |
| (unaudited, in millions) | 2013((2)) | 2012 | (decrease) |
+---------------------------------------+-----------+---------+----------------+
| Philippines | 4.41 | 4.08 | 8.09% |
| | | | |
| Peru((1)) | 2.57 | 2.27 | 13.22% |
| | | | |
| Costa Rica | 1.30 | 1.67 | -22.16% |
| | | | |
| Nicaragua | 1.14 | 0.92 | 23.91% |
+---------------------------------------+-----------+---------+----------------+
| Total Consolidated Operating Revenues | 9.42 | 8.94 | 5.37% |
+---------------------------------------+-----------+---------+----------------+
(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.
* Â Philippines revenues increased by 8.09% over January 2012, an increase of
$0.33 million.
* Â Peru revenues increased by 13.22% over January 2012, an increase of $0.30
million.
* Â 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.
* Â 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.
Contact Information
Contacts:
Thunderbird Resorts Inc.
Peter LeSar
Chief Financial Officer
(507) 223-1234
plesar@thunderbirdresorts.com
www.thunderbirdresorts.com
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Source: Thunderbird Resorts Inc. via Thomson Reuters ONE
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