SAO PAULO, Aug. 13, 2013 /PRNewswire/ -- BHG S.A. - Brazil Hospitality Group (BM&FBovespa: BHGR3; OTC: BZHGY)announces its figures for the second quarter and the first half of 2013.
Net revenue came to R$54.3 million in 2Q13, 5.5% or R$2.9 million up on the same period in the previous year. In 1H13, operating net revenue totaled R$112.9 million, 9.3% higher than the previous six months.
BHG's hotel EBITDA reached R$36.4 million in the first half of 2013, 12.2% up on 1H12, which was R$32.4 million. Quarter over quarter, hotel EBITDA totaled R$15.6 million, 10.2% lower than 2Q12 (R$17.4 million). Hotel EBITDA margin stood at 28.8% in the quarter and 32.2% over the first half-year.
The Company has recorded continuous growth in hotel operations and has focused on landbank cost and corporate expense control, with a positive impact on consolidated EBITDA in the first half of 2013, which moved up by 12.5% over 1H12, totaling R$28.1 million. Between 2Q13 and 2Q12, consolidated EBITDA reduced by 10.1%.
In 1H13, the Company's EBITDA margin stood at 24.9%, 0.7 p.p. more than 1H12 (24.2%); quarter over quarter, the Company's EBITDA margin decreased 4.0 p.ps. over 2Q12.
Average occupancy rate remained flat between 1H13 (61.8%) and 1H12 (61.2%), with slight variation between 2Q13 (59.2%) and 2Q12 (60.9%). However, the average daily rate had an increase between the periods, in line with the Company's commercial strategy of progressively increasing the average room rate at its hotels. The average daily rate totaled R$269.6 in 2Q13 and R$275.1 in the half-year, varying 4.1% and 5.7%, respectively, when compared to the same periods of the previous year.
The higher average daily rate benefitted RevPar (Revenue per available room), which moved up 6.7% between the six-month periods, from R$159.5 in 1H12 to R$170.1 in 1H13. Quarter over quarter, RevPar improved 1.2%, totaling R$159.7 in 2Q13.
The Company posted net loss of R$7.6 million in 1H13.
The Company ended the first half of 2013 with 48 hotels in operation, in addition to 21 projects under development in Brazil's main regions. Considering all hotels currently under construction already announced to the market, in addition to projects to be transferred to FIP, BHG will reach a total of approximately 12,957 rooms under management by the end of 2016, distributed through 69 hotels, 16 (3,030 rooms) of which wholly-owned by the Company, 40 (8,989 rooms) owned by third parties, 13 (964 rooms) partially owned, and 3 in which the Company holds a minority interest.
Media Relations
BHG S.A. - Brazil Hospitality Group
Fernanda Pannunzio
fernanda.pannunzio@bhg.net
+55 11.3577.2302 / 11.99668.7249
www.bhg.net
SOURCE BHG S.A. - Brazil Hospitality Group
