Promotora de Hoteles Norte 19 Announces Fourth Quarter 2024 Results

Mexico City, February 26^th, 2025 – Promotora de Hoteles Norte 19 S.A.B. de C.V. (BMV: HCITY) (“Norte 19” or “The Company”), releases its results for the fourth quarter of 2024 (“4Q24”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).

Financial and Operating Highlights (4Q24)

• At the portfolio level, the Average Daily Rate (“ADR”) increased by 10.1% and the Revenue Per Available Room (“RevPAR”) increased by 10.7%, compared to 4Q23, reaching $1,380 and $785 pesos, respectively. The occupancy rate was 56.9%. For the full year, occupancy was 56.2%, reflecting a 0.6 percentage point increase compared to the previous year. The ADR and RevPAR reached $1,331 and $747 pesos, representing increases of 9.5% and 10.6%, respectively, compared to 2023.

• Total revenue reached $1,060.2 million; a 12.5% increase compared to the same quarter of 2023. For 2024, total revenue reached $4,001.7 million pesos, an increase of 12.9% compared to 2023.

• Operating Income reached $146.7 million in 4Q24, a 32.5% decrease compared to the $217.3 million reported in the same quarter of last year. This was partly due to an increase in the Company’s payroll, as well as a non-recurring effect in 4Q23, which will be detailed later. Operating Income for 2024 was $538.6 million, 13.0% lower than in 2023, partly due to the 4Q23 effect and the fees now paid to Marriott.

• EBITDA and Adjusted EBITDA were $257.9 million and $259.3 million, respectively, in comparison to $327.4 million and $329.1 million in 4Q23. Adjusted EBITDA decreased 21.2% from the previous year with a margin of 24.5% for the quarter. In 2024, EBITDA and Adjusted EBITDA were $974.4 million and $977.6 million, respectively.

• Net Income for the quarter was $59.8 million, compared to $57.1 million in the same quarter of the previous year. Net Income for the year was $72.0 million, compared to $1,105.1 million in 2023. It is important to note that in 2023, the Company received a profit of approximately $1,114.1 million from the sale of five brands to Marriott.

• During the quarter, operating cash flow stood out with a 44.5% year-over-year increase, reaching $319.9 million pesos.

• At the end of the quarter, the portfolio operated 151 hotels, one hotel fewer than in the same quarter of the previous year. There were 17,394 rooms in operation during 4Q24, 109 less compared to the portfolio at the end of 4Q23. It is important to highlight that, starting in January, we announced the beginning of operations for five Hotsson brand hotels in the Bajío region, adding 775 additional rooms in the “Full-Service” category.

Héctor Vázquez
Corporate Finance and IR
Phone: +52 55-5249-8067
E-mail: hvazquez@norte19.com

About Norte 19 

Norte 19 is a Mexican company that offers integrated solutions for the hospitality industry, dedicated to providing services ranging from the design and development of hotels to the operation and management of first-class hospitality businesses. With a track record spanning more than two decades, Norte 19 has stood out for its commitment to excellence in service, innovation in technology, and efficiency in operation. Norte 19 operates more than 150 hotels in Mexico, Colombia, Costa Rica, and Chile, establishing strong partnerships with recognized brands and continuously adapting to market demands. Norte 19 will maintain the same ticker symbol (“HCITY”) on the Mexican Stock Exchange (BMV).

For further information, please visit our website: https://norte19.com/en/investors