Brazil Hospitality Group (BHG) has reported a 46.6% increase in its 2011 fourth quarter net operating revenue (NOR) of R$53.8m, compared to the same period of 2010.
NOR for the full year 2011 stood at R$176.6m, representing a rise of 45% against 2010.
BHG attributed the growth in revenue to the company’s operational growth and to the investments made in structural improvements to its hotels.
Hotel earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter reached R$18.8m, an increase of 74.5% over the fourth quarter of 2010.
For the full year, EBITDA was R$58.2m, a 76.7% rise over 2010.
Considering only the hotels that have been operating for over a year (same-store sales), the company’s hotel EBITDA margin was 33.3% in the quarter; for the year it stood at 33%.
BHG’s consolidated EBITDA in the quarter totalled R$16.7m, up 196.1% over 2010 and for the full year it reached R$41.9m, almost four times higher than the 2010 result of R$10.7m.
The company posted revenue per available room (RevPar) of R$153.8 in 2011, up 23% over the 2010 amount of R$125, mainly driven by an 18.2% increase in the average daily rates (ADRs).
In 2011, BHG signed an agreement for the acquisition of 1,010 rooms, spread among five hotels in Belém, Pará; an agreement for the management of the future Golden Tulip Belo Horizonte and an agreement for the management of Address West Side in Goiás.
In January 2012, the company completed its acquisition of Grupo Solare, which manages eight hotels in the state of Maranhão, adding 1,100 rooms to its portfolio.