Mexico City, July 19th, 2023 – 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 2023 (“2Q23”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).
Financial and Operating Highlights (2Q23)
- At the Chain level, the Average Daily Rate (“ADR”) increased 9.0% and the Revenue Per Available Room (“RevPAR”) increased 12.4%, compared to 2Q22, reaching $1,201 and $674 pesos, The occupancy rate was 56.1%.
- Total revenue reached $875.0 million, a 12.1% increase compared to the same quarter of 2022.
- Operating income reached $126.6 million in 2Q23, compared to a $96.9 million profit in the same quarter of last year.
- EBITDA and Adjusted EBITDA were $230.8 million and $231.2 million, respectively, in comparison to $221.8 million and $221.9 million registered in 2Q22. Adjusted EBITDA increased 4.2% from the previous year with a margin of 26.4% for the quarter.
- Net Income for the period was $1,135.7 million compared to a loss of $47.1 million in the same quarter of 2022. This was primarily driven by the profit made from the sale of the five brands to Marriott International.
- At the end of the quarter, the Chain operated 151 hotels, two hotels less with respect to the same quarter of the previous year. There were 17,367 rooms in operation during 2Q23, which was 111 less than the 17,478 rooms in operation at the end of 2Q22.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance and IR
Phone: +52 (55) 5249 8067
E-mail: hvazquez@hotelescity.com
Ana Lucía Sors
Miranda IR
Phone: +52 (833) 293 4232
E-mail: ana.sors@miranda-newswire.com