BHG Shows Exponential Growth in the Second Quarter of 2011, in Gross Operating Revenue, Hotel EBITDA, Consolidated EBITDA and RevPar
SAO PAULO, Aug. 12, 2011 /PRNewswire/ -- BHG S.A. – Brazil Hospitality Group (BM&FBovespa: BHGR3) announces its numbers for the second quarter of 2011. The Company closed the quarter with R$ 41.6 million in Net Revenue from its Hotel Operations, an increase of 43.5% compared to the same period of last year (R$ 29.0 million).
Hotel EBITDA reached R$ 14.0 million, 129.0% higher than the second quarter of 2010, and 5.7% higher than the first quarter of 2011. In the Same Store Sales comparison (hotels that have been in operation for more than a year), Hotel EBITDA totaled R$ 13.3 million in the quarter, a 103% growth in comparison to the 2Q10.
Hotel EBITDA margin added up to 33.6% in 2Q11, 12.6 p.p. higher than 2Q10. In relation to the Same Store Sales results, there was a 13.3 p.p. gain in relation to the 2Q10 figures, attesting the efficiency of the operational measures implemented for the improvements of the hotels.
The Company's consolidated EBITDA came to R$ 7.4 million in 2Q11, compared to a result of R$ 0 presented in 2Q10. The increase is directly due to a better hotel EBITDA during the quarter, jointly with the reduction of expenses relating to the land bank. The Company's consolidated EBITDA margin in 2Q11 totaled 17.7%, 17.7 p.ps, higher than the 2Q10 (0.0%) figures, and in line with what was presented in 1Q11.
RevPar was 38.3% higher than in 2Q10, due to the 18.8% growth in the average daily rates year over year, in addition to an average occupancy rate 9.5 p.p. higher during the same period. When considering only the 2,122 rooms owned by the Company in June of 2010 as a basis for comparison, a significant 42.1% year over year growth in RevPar is shown. Moreover, using this same comparison basis, these hotels exhibited an average occupancy rate of 68.4%, 10.3 p.p. higher than 2Q10, and an average daily rate of R$ 215.9, 20.7% higher than 2Q10.
As a result, the Company closed the first six months of 2011 with a Net Profit of R$ 7.0 million.
BHG closed the second quarter of 2011 with R$ 194.4 million in cash and R$ 156.4 million in outstanding debt, which highlights the company's sound financial health.
Press Office
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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