Hoteles City Express Announces its Hotel Indicators for September 2023

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Mexico City, October 12th, 2023 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express” or “the Company”) (BMV: HCITY), announces its Hotel Indicators for September 2023.

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.

 

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/investors

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