Hoteles City Express Announces Second Quarter 2021 Results

Mexico City, July 21st, 2021 – 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 2021 (“2Q21”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).

Financial and Operating Highlights (2Q21) 

• At the Chain level, the Average Daily Rate (“ADR”) and the Revenue Per Available Room (“RevPAR”) increased 11.5% and 254.3% year on year, respectively, reaching levels of $999 and $380. The Chain’s occupancy rate in 2Q21 was 38.0%. 

• Total revenue was $519.0 million, an increase of 252.3% compared to the same quarter in 2020, and an increase of 32.8% versus the previous quarter. 

• Operating profit was a loss of $21.0 million in 2Q21, compared to the $267.5 million loss reported in the same quarter of last year.  

• EBITDA and Adjusted EBITDA registered a profit of $97.5 million and $98.5 million, respectively, in comparison to the negative $144.6 million and $144.2 million registered in 2Q20. We highlight the generation of Adjusted EBITDA, which had a 9.2x sequential increase.

• Net Income for the period was a loss of $135.0 million. 

• At the end of the quarter, the Chain was operating 153 hotels, 1 more than in the second quarter of 2020. The number of rooms in operation during 2Q21 reached 17,442, a 0.9% increase compared to the 17,289 operating at the end of 2Q20.  

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 154 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.