The Chain’s occupancy as of March 2023 was calculated based on 152 hotels and 17,487 rooms in operation. In March, the Company had no new hotel openings. Occupancy reached 58.3%, an increase of 5.7 percentage points vs. the same month in 2022. Average daily rate increased by 12.5% year over year, reaching $1,212 pesos, which led to a RevPAR of $707 pesos, an increase of 24.8% vs. 2022.
The following graphs show the recovery trend in room rates and occupancy levels compared to the previous year. During March, we continued to see positive results in terms of rates and occupancy, benefiting from higher traveler traffic observed mainly in metropolitan regions.
During March, the average rate once again reached a record high for the Chain. Most notably, positive results were seen in the Southeast, Northeast, and Metropolitan regions. This month’s performance can be attributed to the surge in traveler traffic in metropolitan areas, coupled with the recovery of the Bajío and the Central regions, which had the highest growth in occupancy compared to the previous year. We also continued to see improved results from our hotels in the major manufacturing corridors, resulting from nearshoring effects as well as the enhanced performance of our CE Plus brand, which was the main driver of the average rate increase.
Finally, consolidated revenue for March reached $318.9 million pesos, representing a 26.8% increase vs. the previous year 2022.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance, Treasury and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com