Hoteles City Express Announces Second Quarter 2020 Results

Mexico City, July 22nd, 2020 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “the Company”), presented today its results for the second quarter of 2020 (“2Q20”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).

Financial and Operating Highlights (2Q20) 

• At the Chain level, the Average Daily Rate (“ADR”) decreased 11.4% and the Revenue Per Available Room (“RevPAR”) decreased 81.9% compared to 2Q19, reaching $896 and $107, respectively. The Chain’s occupancy rate in 2Q20 was 12.0%.
• Total revenues were $147.3 million, a decrease of 81.7% compared to the same quarter in 2019. This was mainly due to the reduction in operations as a result of COVID-19. 
• Operating income had a loss of $267.5 million in 2Q20, compared to the $141.3 million income reported in the same quarter of last year. 
• EBITDA and Adjusted EBITDA registered a loss of $144.6 million and $144.2 million in comparison to the positive $255.1 million and $257.0 million registered during 2Q20.
• Net income for the period was a loss of $522.7 million.
• At the end of the quarter the Chain was operating 152 hotels, flat vs. the second quarter of 2019. The number of rooms in operation during 2Q20 reached 17,289, a 0.4% increase compared to the 17,226 operating at the end of 2Q19.

Miranda Newswire – Full Press Release: Download PDF

Investor Relations Contact Details

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

Ana María Ybarra
Miranda IR
Tel: +52-55-3660-4037
E-mail: ana.ybarra@miranda-ir.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.

Disclaimer/Forward-Looking Statements

The information presented in this report contains certain forward-looking statements and information regarding Hoteles City Express, S.A.B. de C.V. and its subsidiaries (jointly, “the Company”), which are based on the understanding of its management, as well as assumptions and information currently available to the Company. These statements reflect the Company’s current vision regarding future events and are subject to certain risks, factors of uncertainty and assumptions. Many factors may cause the results, performance or current achievements of the Company to be materially different with respect to any future result, performance or accomplishment of the Company that might be included, expressly or implicitly, within such forward-looking statements, including, among other things: changes in general economic and/or political conditions, governmental and commercial changes at the global level and in the countries in which the Company does business, changes in interest rates and inflation, exchange rate volatility, changes in business strategy and various other factors. If one or more of these risks or uncertainty factors should materialize, or if the assumptions used prove to be incorrect, actual results could differ materially from those described herein as anticipated, estimated or expected. The Company does not intend to assume, and does not assume any obligation whatsoever to update these forward-looking statements.