Mexico City, October 18th, 2023 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “The Company”), releases its results for the third quarter of 2023 (“3Q23”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).
Financial and Operating Highlights (3Q23)
- At the Chain level, the Average Daily Rate (“ADR”) increased 6.3% and the Revenue Per Available Room (“RevPAR”) increased 6.1%, compared to 3Q22, reaching $1,205 and $680 pesos, The occupancy rate was 56.5%.
- Total revenue reached $886.3 million, a 4.8% increase compared to the same quarter of 2022.
- Operating income reached $115.3 million in 3Q23, compared to a $142.2 million profit in the same quarter of last year.
- EBITDA and Adjusted EBITDA were $219.5 million and $219.6 million, respectively, in comparison to $270.1 million and $270.7 million in 3Q22. Adjusted EBITDA decreased 18.9% from the previous year with a margin of 24.8% for the quarter. This was mainly due to the decrease in revenues related to the sale of the brands to Marriott and the integration and stabilization process with Marriott’s platforms.
- Net Income for the period registered a loss of $38.6 million compared to a loss of $16.2 million in the same quarter of 2022.
- At the end of the quarter, the Chain operated 151 hotels, one hotel less with respect to the same quarter of the previous year. There were 17,366 rooms in operation during 3Q23, which was 10 more than the 17,356 rooms in operation at the end of 3Q22.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance and Investor Relations
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