Hoteles City Express Announces Second Quarter 2022 Results


Mexico City, July 20th, 2022 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “the Company”), releases its results for the second quarter of 2022 (“2Q22”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).


Financial and Operating Highlights (2Q22) 

  • At the Chain level, the Average Daily Rate (“ADR”) increased 10.3% and the Revenue Per Available Room (“RevPAR”) increased 57.8%, compared to 2Q21, reaching levels of $1,102 and $599 pesos, respectively. The occupancy rate was 54.4%.
  • Occupancy at the Chain level for June reached 55.1%. This represents a recovery of 94.4% vs 2019. Likewise, the average daily rate for June reached $1,108, a 110.9% recovery against the same month in 2019. RevPAR was higher than 2019, at 105%, versus a stable comparison year (2019).
  • Total revenue was $780.6 million, a 50.4% increase compared to the same quarter in 2021.
  • Operating profit was $96.9 million in 2Q22, compared to a loss of $21.0 million in the same quarter of last year.
  • EBITDA and Adjusted EBITDA were $221.8 million and $221.9 million, respectively. This compares to the $97.5 million and $98.5 million registered in 2Q21. Adjusted EBITDA increased 125.3% from the previous year for a margin of 28.4% for the quarter.
  • Net Income for the period was a loss of $47.1 million.
  • At the end of the quarter, the Chain had 153 hotels in operation, the same number of hotels as in the second quarter of the previous year.  There were 17,478 rooms in operation during 2Q22, which was 36 more than the 17,442 rooms at the end of 2Q21.


Miranda Newswire – Full Press Release: Download PDF


Investor Relations Contact Details

Héctor Vázquez
Corporate Finance and IR
Phone: +52 (55) 5249 8067

Damian Fraser
Miranda IR
Phone: +52 55-5402-1295
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 153 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.

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