BHG Continues its Pace of Strong Growth Throughout 3Q11, With Net Revenues Totaling R$ 42.3 Million, 20.8% Above the Result for 2010
Hotel EBITDA reaches R$ 14.1 million and Consolidated EBITDA totaled R$ 10.6 million for the period
SAO PAULO, Nov. 10, 2011 /PRNewswire/ -- BHG S.A. – Brazil Hospitality Group (BM&FBovespa: BHGR3) announces its numbers for the third quarter of 2011. The results show the Company's continuous growth, which achieved a RevPar of 19.2% in comparison with the same period of 2010. Considering the Same Store Sales metric, year over year, RevPar growth came to 21.5%.
Net Operating Revenues for 3Q11 stood at R$ 42.3 million, a growth of 20.8% in relation to 3Q11, and of 6.1% in comparison to 2Q11.
Hotel EBITDA reached R$ 14.1 million in the third quarter of 2011, 34.5% higher than EBITDA for 3Q10 and 15.8% higher than 2Q11. In the Same Store Sales comparison, Hotel EBITDA came to R$ 13.0 million for 3Q11, a growth of 24.4% year over year.
Hotel EBITDA margin was 33.3% for the third quarter, a 3.4 p.ps. increase in relation to 3Q10 (29.9%). Consolidated EBITDA reached R$ 10.6 million in 3Q11, 128.3% higher than that exhibited for the same period of 2010 (R$ 4.6 million). EBITDA margin for the quarter came to 25.0%, due to the increase in revenues and constant cost control.
The Company achieved a RevPar of R$ 153.8 during 3Q11, 19.2% higher than that registered in 3Q10. In relation to the previous quarter, the increase of RevPar was 1.1%, in line with growth of 3.3% in the daily rates.
Also, there was an increase of 22.1% in the average daily rates during the period, with occupancy reaching 66.9%, 1.6 p.p. and 1.5 p.p. below 3Q10 and 2Q11. With this, EBITDA Margin stood at 33.3% in 3Q11, an increase of 3.4 p.ps. and 2.8 p.ps in relation to 3Q10 and 2Q11, respectively.
BHG closed the period with a net loss of R$ 1.0 million and R$ 48.2 million in cash, exhibiting a decline of R$ 146.1 million (75.2%) in relation to the position in June of 2011, as a result of the investments in the period, especially due to the acquisition of Rio Palace Hotel, in Copacabana (Rio de Janeiro).
As the third largest hotel network in the country, the Company has in its portfolio 34 hotels, for a total of 6,683 rooms, as well as already scheduled growth that will bring the total to 9,400 rooms in 48 hotels by the end of 2014.
Office of Communications
BHG S.A. – Brazil Hospitality Group
Fernanda Pannunzio
[email protected]
11.3577.2302 / 11.9668.7249
SOURCE BHG S.A. - Brazil Hospitality Group
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