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.
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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