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SOURCE BHG S.A. - Brazil Hospitality Group
BHG Hotel EBITDA reached R$74.9 million, EBITDA Margin of 33.4%; Consolidated EBITDA is 45.9% up over 2011 figures and totals R$61.1 million
SAO PAULO, Feb. 28, 2013 /PRNewswire/ -- BHG S.A. - Brazil Hospitality Group (BM&FBovespa: BHGR3; OTC: BZHGY)announces its 4Q12 and 2012 year results, which reveal a solid growth of operating margins. Net revenue from hotel business came to R$224.2 million in 2012 and R$64.7 million in 4Q12, 27.0% and 20.3% up on 2011 and 4Q11, respectively.
Hotel EBITDA in 2012 and 4Q12 totaled R$74.9 million and R$22.8 million, 28.7% and 21.2% up on 2011 and 4Q11, respectively. Hotel EBITDA Margin came to 33.4% in 2012 and 35.3% in 4Q12.
Consolidated EBITDA (hotel EBITDA, real estate development activities, revenue from non-operated properties and corporate expenses) totaled R$61.1 million and R$18.9 million in 2012 and 4Q12, up by R$19.2 million and R$2.2 million, or 45.9% and 13.0% on 2011 and 4Q11, respectively. EBITDA Margin reached 27.3% in 2012 and 29.2% in 4Q12, 3.6 pp up on 2011 and 1.9 pp down on 31.1% seen in 4Q11.
During 2012, daily average rate grew by 13.5%, with a positive impact on RevPar (revenue per available room), which totaled R$165.9 in 2012, 7.8% up on 2011, more than offsetting the decrease of 3.3 pp in average occupancy rate when compared to 2011.
In 2012, the Company recorded a net loss of R$6.3 million, compared to R$9.6 million recorded in 2011, despite the net income of R$1.2 million recorded in the 2nd half of 2012. In 4Q12 the company issued R$ 70 million through a local debentures, which the primary use of proceed was to pay short-term working capital financings.The Company ended 2012 with 8,691 rooms in its portfolio, distributed through 49 hotels and will start the operation of 1,984 new rooms in 2013. Considering all the hotels currently under development to which the Company has Memoranda of Understanding signed and the hotels to be transferred to BHG's Private Equity Fund (FIP), the Company will reach a total of approximately 13,077 rooms under management by the end of 2015, distributed through 69 hotels, 16 (3,030 rooms) of which wholly-owned by the Company, 42 (9,137 rooms) owned by third parties, 11 (910 rooms) partially owned, and 3 in which the Company holds a minority interest.
Who we are:
BHG S.A. - Brazil Hospitality Group, the country's third largest hotel chain, is the first Brazilian company to operate in the real estate segment specializing in business tourism hotels, with owned and managed hotels in the 3-, 4- and 5-star categories.
The exclusive contract with the Golden Tulip Hospitality Group in South America allows it to use the Royal Tulip (5-star), Golden Tulip (4-star) and Tulip Inn (3-star) brands. BHG also has the Soft Inn brand, used for limited-service 2-star hotels, which offer an attractive cost-benefit ratio for business tourism.
BHG is a publicly-held company with shares traded on the Novo Mercado segment of the BM&FBovespa under the ticker BHGR3, and a Level I ADR program for trading its shares on the over-the-counter (OTC) market in New York, United States, under the ticker BZHGY. In September 2012, BHG announced the beginning of a FIP- Private Equity Fund, with the purpose of investing in the development of greenfield real estate projects in the domestic hotel sector, in the midscale category. The development of greenfield hotels will be one of the key growth drivers for BHG in the coming years.
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