Hoteles City Express Announces the Appointment of a New External Auditor

Mexico City, July 27th, 2020 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express”) (BMV: HCITY), announces the appointment of a new external auditor. 

In strict adherence, compliance, and based on Article 24 of the General Provisions Applicable to Entities and Issuers Supervised by the CNBV who engage Basic Financial Statements External Audit Services (the “Provisions”), Ing. Luis Eduardo Barrios Sánchez, a duly accredited individual before the Commission representing Hoteles City Express, S.A.B. de C.V. (“City Express”), hereby informs that the Company’s  Board of Directors at its meeting which took place on July 22nd, 2020, unanimously approved upon the recommendation of the Audit, Risk, and Corporate Practices Committees, the replacement of the firm KPMG Cárdenas Dosal, S.C. and subsequent hiring of the firm Galaz, Yamazaki, Ruiz Urquiz, S.C. (Member of Deloitte Touche Tohmatsu Limited) as the providers of External Audit services for the Basic Financial Statements of the Company and its Subsidiaries. This is effective as of the current year (2020). In the same meeting, the appointment of C.P.C. Manuel Nieblas Rodríguez as the person responsible for issuing and signing said audit report was approved, in accordance with Article 24 of said Provisions.

Considering the current global context, City Express carried out an exhaustive competitive analysis to name Galaz, Yamazaki, Ruiz Urquiz, S.C. (Member of Deloitte Touche Tohmatsu Limited) its External Auditors, based on quality, service, and price of their proposal. The selection of our new External Auditors was supported by the Board of Directors based on the significant savings that said firm’s services represent, while also recognizing the quality of the assigned works which positively benefits City Express. This change also exemplifies City Express’s financial discipline, as it aligns its work with the current challenges, while meeting its objectives at all times.

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Héctor Vázquez
Corporate Finance and Investor Relations
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 the Company
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, Columbia 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 2014, Hoteles City Express completed a follow on with the aim of accelerating its growth in new hotels in the next few years.
For further information, please visit our website: https://www.cityexpress.com/en/investors

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