Hoteles City Express Announces First Quarter 2020 Results

Mexico City, April 22nd, 2020 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “the Company”), announced today its results for the first quarter of 2020 (“1Q20”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).

 

Financial and Operating Highlights (1Q20) 

  • At the Chain level, the Average Daily Rate (“ADR”) increased 1.1% and the Revenue Per Available Room (“RevPAR”) decreased 12.7% compared to 1Q19, reaching $1,025 and $473, respectively. The Chain’s occupancy rate in 1Q20 was 46.1%. Adjusting for the atypical effect in March from the pandemic, the RevPAR would have increased 2.7% year-over-year.
  • Total revenues were $651.6 million, a decrease of 9.1% compared to the same quarter in 2019. This was mainly due to the reduction in operations as a result of COVID-19. 
  • Operating income reached $36.0million in 1Q20, 66.7% less than 1Q19. This was due to a 1.4% increase in total costs and expenses and a 9.1% decrease in revenue. 
  • EBITDA and Adjusted EBITDA were $158.9 million and $160.3 million, a 26.5% and 27.0% year over year drop, respectively. EBITDA and Adjusted EBITDA margins for the period reached 24.4% and 24.6%, respectively. 
  • Net income for the period was a loss of $95.9 million.
  • At the end of the quarter the Chain was operating 154 hotels, a 4 unit increase compared to the same quarter of 2019. The number of rooms in operation during 1Q20 reached 17,487, a 2.9% increase compared to 17,002 at the end of 1Q19. 

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Héctor Vázquez

Corporate Finance and IR

Tel: +52-55-5249-8067

E-mail: hvazquez@hotelescity.com 

Ana María Ybarra

Miranda IR

Tel: +52-55-3660-4037

E-mail: ana.ybarra@miranda-ir.com 

 
Disclaimer/Forward-Looking Statements
The information presented in this report contains certain forward-looking statements and information regarding Hoteles City Express, S.A.B. de C.V. and its subsidiaries (jointly, “the Company”), which are based on the understanding of its management, as well as assumptions and information currently available to the Company. These statements reflect the Company’s current vision regarding future events and are subject to certain risks, factors of uncertainty and assumptions. Many factors may cause the results, performance or current achievements of the Company to be materially different with respect to any future result, performance or accomplishment of the Company that might be included, expressly or implicitly, within such forward-looking statements, including, among other things: changes in general economic and/or political conditions, governmental and commercial changes at the global level and in the countries in which the Company does business, changes in interest rates and inflation, exchange rate volatility, changes in business strategy and various other factors. If one or more of these risks or uncertainty factors should materialize, or if the assumptions used prove to be incorrect, actual results could differ materially from those described herein as anticipated, estimated or expected. The Company does not intend to assume, and does not assume any obligation whatsoever to update these forward looking statements.

Share our news:

LinkedIn
Twitter
WhatsApp
Email

Latest News

[hubspot type=form portal=6135587 id=ac859e78-dc50-4cb5-8405-98ba8832f825]