Mexico City, March 24th, 2022 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express” or “the Company”) (BMV: HCITY) announces, as part of the Company’s asset recycling and liquidity strategy, the sale of a 50% equity stake in the Ce Chihuahua hotel. The agreed transaction price was $149,800,000.00 (one hundred and forty-nine million eight hundred thousand Mexican pesos 00/100 M.N.). Once the transaction is completed, Hoteles City Express will continue to operate the hotel under a management and franchise agreement.
With part of the resources obtained from the transaction, the Company will make a prepayment to the syndicated loan in the amount of $21,500,000.00 (twenty-one million five hundred thousand Mexican pesos 00/100 M.N.). Likewise, with the deconsolidation of these properties, $56,427,464.80 (fifty-six million four hundred and twenty-seven thousand four hundred and sixty-four Mexican pesos 80/100 M.N.) of debt will no longer be considered in the Company’s balance sheet.
During the last 12 months, the Company has announced asset sales for a total amount of $782,000,000.00 (seven hundred eighty-two million Mexican pesos 00/100 M.N.). The Company will continue to monitor and analyze different balance sheet deleveraging opportunities, as well as strategies to preserve and capture more liquidity.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com