Hoteles City Express Announces Permanent Closure of the City Express Coatzacoalcos Hotel

 Mexico City, November 1st, 2021 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express”) (BMV: HCITY), announces the permanent closure of the City Express Coatzacoalcos (CECOA) hotel.

 

Together with our partners who are co-invested in this property and following a rigorous analysis of the future hotel demand in this location after the health contingency, the permanent closure of the City Express Coatzacoalcos hotel has been decided. The property’s closure allows us to focus on looking for opportunities to recycle the asset, seeking to maximize our invested capital. After this closure, Hoteles City Express’s hotels portfolio consists of 152 hotels and 17,331 rooms.

 

We believe that the closure of this property will not have a material impact on the company’s results.

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

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

Marimar Torreblanca
Miranda IR
Phone: +52 55-5282-2992
E-mail: marimar.torreblanca@miranda-newswire.com 

 
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 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 October 8, 2014, Hoteles City Express completed a follow on with the aim of accelerating its growth in new hotels over the next few years.
For further information, please visit our website: https://www.cityexpress.com/en/investors/

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