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Favourable
-- A 0.6% increase in the average daily room rate, due to increases in western Canada and central Canada, partially offset by a decrease in Atlantic Canada
Unfavourable
-- A 0.2% decrease in occupancy, due to a decrease in central Canada, partially offset by increases in Atlantic Canada and western Canada Factors Contributing to Annual RevPar Variance
Favourable
-- The Hilton Suites Hotel, acquired in October 2011, contributed 1.2% to the increase in RevPAR.-- A 1.5% increase in the average daily room rate, excluding the impact of the Hilton Suites Hotel, due to increases in western Canada and central Canada
Unfavourable
-- A 1.1% decrease in occupancy, excluding the impact of the Hilton Suites Hotel, due to decreases in central Canada and Atlantic Canada, partially offset by an increase in western Canada Factors Contributing to Quarterly Hospitality Revenue Variance
Favourable
-- Revenue contribution from the StationPark Hotel, which was acquired in October 2012-- Higher revenue from operations in western Canada and Atlantic Canada Factors Contributing to Annual Hospitality Revenue Variance
Favourable
-- Revenue contribution from the Hilton Suites Hotel for a full year in 2012 and from the StationPark Hotel for the fourth quarter of 2012-- Higher revenue from operations in western Canada
Unfavourable
-- Lower revenue from operations in central Canada and Atlantic Canada Factors Contributing to Annual Earnings Variance
Unfavourable
-- Lower performance at the Hospitality Division, excluding the Hilton Suites Hotel, primarily due to the impact of decreased occupancy at hotel operations in central Canada and Atlantic Canada, partially offset by the impact of increased average room rates and occupancy in western Canada-- Increased depreciation due to capital additions and improvements
Favourable
-- Contribution from the Hilton Suites Hotel for a full year in 2012
CORPORATE AND OTHER (1)
----------------------------------------------------------------------------Financial Highlights (Unaudited)Periods Ended December 31 Quarter Annual($ millions) 2012 2011 Variance 2012 2011 Variance--------------------------------------------------------------------------------------------------------------------------------------------------------Revenue 6 6 - 24 23 1Operating Expenses 6 2 4 14 9 5Depreciation and Amortization 1 1 - 2 2 -Other Income (Expenses), Net 2 1 1 (9) 21 (30)Finance Charges 11 13 (2) 47 54 (7)Income Tax Recovery (1) (2) 1 (7) (6) (1)---------------------------------------------------------------------------- (9) (7) (2) (41) (15) (26)Preference Share Dividends 13 12 1 47 46 1----------------------------------------------------------------------------Net Corporate and Other Expenses (22) (19) (3) (88) (61) (27)--------------------------------------------------------------------------------------------------------------------------------------------------------(1) Includes Fortis net corporate expenses, net expenses of non-regulated FortisBC Holdings Inc. ("FHI") corporate-related activities, and the financial results of FHI's wholly owned subsidiary FortisBC Alternative Energy Services Inc. ("FAES") and FHI's 30% ownership interest in CWLP. The contracts between CWLP and the FortisBC Energy companies ended on December 31, 2011. Factors Contributing to Quarterly Net Corporate and Other Expenses Variance
