Update on Peru-Sale of Thunderbird Hotel Pardo

PANAMA, REPUBLIC OF PANAMA--(Marketwire - February 25, 2010) - Thunderbird
Resorts Inc. ("Thunderbird" or "Group") (FRANKFURT: 4TR)(EURONEXT: TBIRD)
reports the following: the Group's Peru subsidiary, Thunderbird Hoteles Las
Americas ("THLA"), owns and operates six hotels in Lima, Peru (the "THLA
Hotels"). As previously reported, in order to reduce the Group's investment and
related debt in "non-gaming" assets in the fourth quarter of 2009 the Group
began to actively engage in selling four of the six THLA hotels that have no
casino component. These four hotels are the Thunderbird Hotel Principal,
Thunderbird Hotel Pardo, Thunderbird Hotel Bellavista, and Thunderbird Resorts
El Pueblo. On 24 February 2010, the Group closed on the sale of the Thunderbird
Hotel Pardo for approximately $8.4 million. Thunderbird Hotel Pardo has 64 rooms
and is located in the busy district of Miraflores, just minutes from Lima's
financial district. The Group entered into a one year hotel management agreement
with the new owner of the Thunderbird Hotel Pardo, in conjunction with the sale
transaction. The total $8.4 million net sale proceeds (after certain taxes and
closing costs) will be used to pay down secured Peruvian sourced debt related to
the Thunderbird Hotel Pardo. The Group continues to pursue the sale of the
Thunderbird Hotel Principal, Thunderbird Hotel Bellavista, and Thunderbird
Resorts El Pueblo hotel properties as previously announced.
 
ABOUT THE COMPANY
 
We are an international provider of branded casino and hospitality services,
focused on markets in Central and, South America, Southeast Asia and India. Our
mission is to "create extraordinary experiences for our guests." Additional
information about the Group is available on its World Wide Web site at
www.thunderbirdresorts.com <http://www.thunderbirdresorts.com/>.
 
Cautionary Notice: This release contains certain forward-looking statements
within the meaning of the securities laws and regulations of various
international, federal, and state jurisdictions. All statements, other than
statements of historical fact, included herein, including without limitation,
statements regarding potential revenue and future plans and objectives of the
Group are forward-looking statements that involve risk and uncertainties. There
can be no assurances that such statements will prove to be accurate and actual
results could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the
Group's forward-looking statements include competitive pressures, unfavorable
changes in regulatory structures, and general risks associated with business,
all of which are disclosed under the heading "Risk Factors" and elsewhere in the
Group's documents filed from time-to-time with the NYSE Euronext Amsterdam and
other regulatory authorities.
 
Contacts:
 
Thunderbird Resorts Inc.
Kevin McDonald
Investor Relations
(858) 668-2503
kevin.mcdonald@thunderbirdresorts.com
 
Thunderbird Resorts Inc.
Michael G. Fox
Chief Financial Officer
mfox@thunderbirdresorts.com   /
info@thunderbirdresorts.com 
 
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