Fourth Quarter and 2011 Highlights
- Adjusted EBITDA increased 15.7 percent to $13.0 million in the fourth quarter from the prior year and 16.7 percent to $80.5 million for the full year.
- Same store revenue per available room (RevPAR) increased 6.4 percent and total revenue per available room (Total RevPAR) increased 5.5 percent over the prior year quarter, and same store RevPAR increased 9.3 percent for year ended December 31, 2011 as compared to the year ended December 31, 2010.
- Same store occupancy in the fourth quarter increased by 220 basis points and average daily rate (ADR) increased 2.0 percent as compared to the prior year quarter, and for the year same store occupancy increased 360 basis points and ADR increased 3.1 percent.
- Improved its net debt to trailing twelve-month Adjusted EBITDA ratio to 5.98 times and eliminated all debt maturities until July 2014.
Kim Schaefer, chief executive officer, commented, “Throughout 2011 we delivered outstanding operating results culminating in our second consecutive year of record Adjusted EBITDA. Our ongoing commitment to providing our guests with a superior experience, combined with the value of a Great Wolf Lodge® getaway, continues to resonate with consumers. During the year we successfully accomplished our goal of attracting an increased number of new guests to our resorts, creating a strong pipeline of potential future repeat visits. We continue to refine our sales and marketing strategies, which combined with enhanced amenities and a stabilizing economy, should result in ongoing growth as we progress through 2012 and beyond.”
Read the full press release on IPM NewsDocs