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.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com
Damian Fraser
Miranda IR
Phone: +52 55-5402-1295