Hoteles City Express Announces its Hotel Indicators for March 2024

Mexico City, April 12th, 2024 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express” or “the Company”) (BMV: HCITY), announces its Hotel Indicators for March 2024.

The portfolio’s occupancy as of March 2024 was calculated based on 152 hotels and 17,503 rooms in operation. In March, there were no new hotel openings.

Occupancy reached 57.9%, a decrease of 0.4 percentage points vs. the same month of 2023. This was mainly due to the change in the date of Easter, which this year was celebrated in March, as opposed to April in 2023. The average daily rate increased 8.6% vs. the same month of 2023, reaching $1,316 pesos. In March, RevPAR was $762 pesos, an increase of 7.8% vs. 2023.

The following graphs show the trend in room rates and occupancy levels compared to 2023. In March, RevPAR improved compared to the previous year, particularly in hotels located in the Northwest, South, and Metropolitan regions, a trend that has been consistent throughout the year. Likewise, we observed a rebound in the performance of the “City Express Plus” brand hotels, which have a higher rate than other brands.

We highlight the performance of our hotels in the Northeast and South regions, which achieved RevPAR growth of 20.6% and 19.2% respectively compared to the same month in 2023. This growth is primarily due to increased nearshoring demand and a higher number of international travelers in the South region, driven by leisure customers from digital channels.

We continue to pursue a strategy focused on growing rates above inflation, while continuing with an analysis by plaza and by hotel to capitalize on specific opportunities.

Finally, consolidated revenue for March reached $341.2 million pesos, increasing by 7.0% vs. 2023.

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Héctor Vázquez
Corporate Finance, Treasury and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com 

Ana Lucía Sors
Miranda IR
Phone: +52 (833) 293 4232
 
About Hoteles City Express
Hoteles City Express considers itself to be the leading owner, operator, and developer of limited-service hotels in Mexico, in terms of number of hotels, number of rooms, geographic presence, market share and revenues. Founded in 2002, Hoteles City Express specializes in offering high-quality, comfortable, and safe lodging at affordable prices via a limited-service hotel chain geared mainly towards domestic business travelers. With 152 hotels located in Mexico, Costa Rica, Colombia and Chile, Hoteles City Express operates five distinct brands: City Express, City Express Plus, City Express Suites, City Express Junior and City Centro, to serve different segments of its target market. In June 2013, Hoteles City Express completed its IPO and began trading on the Mexican Stock Exchange under the ticker symbol “HCITY” furthermore, on September 8, 2014, Hoteles City Express completed a follow on with the aim of accelerating its growth in new hotels over the next few years. In 2021, the process of increasing equity capital was carried out through the issuance of ordinary shares for an approximate amount of $290.0 million pesos. Additionally, in 2023, Hoteles City announced the start of a Strategic Relationship with Marriott International, involving the sale of its 5 brands for $100.0 million dollars. 
For further information, please visit our website: https://www.hstay.com/en/investors

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