Mexico City, April 19th, 2023 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “The Company”), releases its results for the first quarter of 2023 (“1Q23”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).
Financial and Operating Highlights (1Q23)
At the Chain level, the Average Daily Rate (“ADR”) increased 12.6% and the Revenue Per Available Room (“RevPAR”) increased 32.7%, compared to 1Q22, reaching levels of $1,198 and $639 pesos, respectively. The occupancy rate was 53.3%.
Total revenue reached $840.3 million, a 34.6% increase compared to the same quarter of 2022.
Operating profit reached $159.8 million in 1Q23, compared to a $10.7 million profit in the same quarter of last year.
EBITDA and Adjusted EBITDA were $263.7 million and $265.7 million, respectively. This compares to $138.3 million and $138.7 million registered in 1Q22. Adjusted EBITDA increased 91.6% from the previous year for a margin of 31.6% for the quarter (9.4 percentage points higher than the same quarter of the previous year).
Net Income for the period was a loss of $49.2 million compared to the $29.2 million loss in the same quarter of 2022.
At the end of the quarter, the Chain had 152 hotels in operation, the same number of hotels with respect to the same quarter of the previous year. There were 17,487 rooms in operation during 1Q23, which was 156 more than the 17,331 rooms at the end of 1Q22.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com