Mexico City, April 21st, 2021 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “the Company”), presented today its results for the first quarter of 2021 (“1Q21”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).
Financial and Operating Highlights (1Q21)
At the Chain level, the Average Daily Rate (“ADR”) and the Revenue Per Available Room (“RevPAR”) decreased 6.1% and 38.9% respectively compared to 1Q20, to $962 and $289. The Chain’s occupancy rate in 1Q21 was 30.0%.
Total revenue was $390.8 million, a decrease of 40.0% compared to the same quarter in 2020, and an increase of 1.0% versus the previous quarter. This was mainly due to restrictions in mobility which impacted hotel demand during the winter vacation period and the consequent second wave of COVID-19.
Operating profit was a loss of $110.0 million in 1Q21, compared to the $35.9 million profit reported in the same quarter of last year.
EBITDA and Adjusted EBITDA registered a profit of $9.9 million and $10.7 million respectively, in comparison to the positive $158.9 million and $160.3 million registered during 1Q20. We highlight the positive EBITDA generation which had not been seen in the last 12 months.
Net Income for the period was a loss of $199.2 million.
At the end of the quarter, the Chain was operating 153 hotels, 1 less than in the first quarter of 2020. The number of rooms in operation during 1Q21 reached 17,411, a 0.4% decrease compared to the 17,487 operating at the end of 1Q20.
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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