Hoteles City Express Announces its Hotel Indicators for October 2023

Mexico City, November 16th, 2023 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express” or “the Company”) (BMV: HCITY), announces its Hotel Indicators for October 2023.

The Chain’s occupancy as of October 2023 was calculated based on 151 hotels and 17,366 rooms in operation. In October, there were no new hotel openings.

Occupancy reached 56.9%, a decrease of 1.7 percentage points vs. the same month of 2022. The average daily rate increased by 4.2% year over year, reaching $1,244 pesos. In October, RevPAR reached $708 pesos, an increase of 1.1% vs. 2022.

The following graphs show the recovery trend in room rates and occupancy levels compared to the previous year. The average rate reached its highest level in the Chain’s history. During the month, we noticed a slight recovery in the improvement trend vs. the previous year, mainly in the South, Southeast, and Midwest regions. On the other hand, we observed a deceleration in the results of the Metropolitan, Northwest, and LATAM regions. However, the slowdown in occupancy was due to the final phase of the connection and integration process with Marriott, which began to stabilize in November.

During October, hotels in the Western Central, Southeast, and Northeast regions experienced the greatest improvements in their rates vs. the previous year. The Southeast corridor stood out with an increase of 11.1% in its average daily rate, followed by the Western Central region with a 10.9% increase and the Northeast with a 9.6% increase vs. 2022. The Chain’s results benefited from the growth in rates and the volume of direct bookings through our own channels. We are observing a more significant recovery in our hotels in the Bajío and the South compared to the rest of the Chain. We expect these regions to continue experiencing higher growth with the reactivation of economic centers and the stabilization of various connections to Marriott platforms.

Finally, consolidated revenue for October reached $315.2 million pesos, representing a 1.1% increase vs. the same month of the previous year.

 

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 is the leading and fastest-growing limited-service hotel chain 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 151 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. During 2021, the Company commenced a capital increase process with the emission of ordinary shares, this process has not yet concluded.
For further information, please visit our website: https://www.hstay.com/en/investor

Share our news:

LinkedIn
Twitter
WhatsApp
Email

Latest News

[hubspot type=form portal=6135587 id=ac859e78-dc50-4cb5-8405-98ba8832f825]