Mexico City, February 24th, 2021 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “the Company”), presented today its results for the fourth quarter of 2020 (“4Q20”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).
Financial and Operating Highlights (4Q20)
- At the Chain level, the Average Daily Rate (“ADR”) and the Revenue Per Available Room (“RevPAR”) decreased 8.6% and 52.3% compared to 4Q19, respectively, to $949 and $284. The Chain’s occupancy rate in 4Q20 was 29.9%.
- Total revenue was $386.8 million, a decrease of 52.7% compared to the same quarter in 2019, and an increase of 30.4% versus the previous quarter. This was mainly due to the reduction in hotel demand as a result of COVID-19.
- Operating profit was a loss of $187.0 million in 4Q20, compared to the $142.8 million profit reported in the same quarter of last year.
- EBITDA and Adjusted EBITDA registered a loss of $63.1 million and $60.7 million, respectively, in comparison to the positive $268.9 million and $275.3 million registered during 4Q19. Note these amounts include balance sheet account write downs of $71.2 million.
- Net Income for the period was a loss of $327.5 million.
- At the end of the quarter, the Chain was operating 154 hotels, 2 more than in the fourth quarter of 2019. The number of rooms in operation during 4Q20 reached 17,514, a 1.7% increase compared to the 17,227 operating at the end of 4Q19.
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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