Mexico City, February 16th, 2022 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “the Company”), presents its results for the fourth quarter of 2021 (“4Q21”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).
Financial and Operating Highlights (4Q21)
At the Chain level, the Average Daily Rate (“ADR”) increased 11.9% and the Revenue Per Available Room (“RevPAR”) increased 83.6%, compared to the same quarter of 2020, reaching levels of $1,062 and $522 pesos, respectively. The occupancy rate was 49.1%.
Total revenue was $726.2 million, an 87.8% increase compared to the same quarter in 2020, and a 13.9% increase versus the previous quarter.
Operating profit was $44.5 million in 4Q21, compared to the $187.1 million loss reported in the same quarter of last year.
EBITDA and Adjusted EBITDA were $185.5 million and $186.4 million, respectively. This compares to the negative $63.1 million and $60.7 million figures registered in 4Q20. We highlight the Adjusted EBITDA generation, which increased 16% versus the previous quarter, and had a margin of 25.7% for the quarter.
Net Income for the period was a gain of $2.8 million.
At the end of the quarter, the Chain was operating 152 hotels, 2 less than in the fourth quarter of 2020. The number of rooms in operation during 4Q21 was 17,331, a 1.0% decrease compared to the 17,514 operating at the end of 4Q20. This was due to net openings and closures and/or administrative and franchise contract terminations.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com