Hotel News Resource - Thunderbird Resorts Hotel Industry News

This hotel generated approximately $602 thousand in EBITDA in 2011 or just 3% of the Group's consolidated adjusted EBITDA. Approximately $9.5 million of the proceeds from the sale have immediately been used to pay down Peru senior debt principal balances.

The Group has received a non-refundable deposit of $1.0 million toward the purchase of the Thunderbird Resorts - El Pueblo Hotel & Convention Center located near Lima, Peru (El Pueblo).

Same-store revenue in 2011 increased by $1.4 million despite challenging conditions both globally and in certain of our markets.

Thunderbird Resorts Inc. (FRANKFURT:4TR)(EURONEXT:TBIRD) reports the following revenues for November 2011:

Total Consolidated Revenues Decline 2.5%

On 27 March 2011, the Group announced that THLA entered into a contract to sell the Thunderbird Hotels-Principal and the Thunderbird Hotels-Bellavista for $18 million.

In 2010, Thunderbird executed on a strategy to improve financial performance by deleveraging through the sale of the Panama casinos and two Peru hotels and by exiting non-performing businesses in Guatemala.