Hoteles City Express announces the permanent closure of the City Express Poza Rica hotel

Mexico City, April 30th, 2020 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express”) (BMV: HCITY) announces the permanent closure of the City Express Poza Rica (CEPAZ) hotel. 

Together with our partners who are co-invested in this property and following a rigorous analysis of the future demand for hotel rooms in this location after the health contingency, we have decided to permanently close the City Express Poza Rica hotel. The closure of this hotel allows us to focus on searching for asset recycling opportunities, as always looking to maximize the invested capital. After this closure, our hotel portfolio consists of 152 hotels and 17,289 rooms.

The closing of this property will not have a material impact on the company´s financial results.

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 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