The Chain’s occupancy as of September 2023 was calculated based on 151 hotels and 17,366 rooms in operation. In September, there were no new hotel openings.
Occupancy reached 52.9%, a decrease of 2.3 percentage points vs. the same month of 2022. We expect occupancy levels to stabilize upon the completion of the integration process with Marriott’s platforms. The average daily rate increased by 7.6% year over year, reaching $1,207 pesos. We continue with our strategy of raising rates above inflation levels, resulting in a sustained positive trend in RevPAR. In September, RevPAR reached $639 pesos, an increase of 3.2% vs. 2022.
The following graphs show the recovery trend in room rates and occupancy levels compared to the previous year. During September, we observed a deceleration in the improvement trend vs. the previous year, particularly in the Bajío, LATAM, and Northeast regions. As previously mentioned, the average rate improvement trend remains above 7.5%, leading to an increase in RevPAR vs. the same month last year.
During September, hotels in the Southeast, South, and Metropolitan regions experienced rate improvements vs. the previous year, with the South corridor notably achieving a 2.9 percentage points increase vs. 2022. Operating results continue to present opportunities for improvement, particularly as we grow exposure to international travelers. The Company has increased rates in strategic locations and has analyzed individual hotel performance to identify areas for improvement in terms of productivity and competitiveness within their respective locations.
Finally, consolidated revenue for September reached $276.3 million pesos, representing a 2.6% 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