The portfolio’s occupancy as of July 2024 was calculated based on 152 hotels and 17,533 rooms in operation. During the month, there were no changes in the size of the hotel portfolio.
Occupancy stood at 59.1%, a decrease of 0.2 percentage points vs. the same month of 2023. The average daily rate increased 9.7% vs. the same month of 2023, reaching $1,321 pesos. In July, RevPAR was $780 pesos, an increase of 9.3% vs. 2023.
Our hotel portfolio continued its recovery, with a slight variation in occupancy and a rate increase of 4.1 percentage points above the 5.6% inflation recorded from July 2023 to July 2024. We reaffirm our commitment to maximizing the average rate in locations when possible.
During the month, the City Centro, City Express Suites, and City Express by Marriott recorded the highest annual increases in RevPAR, with 20.2%, 10.4%, and 9.3%, respectively. As in previous months, these increases are attributed to the rise in average rates across the portfolio. The RevPAR of the City Express Suites and City Express Junior by Marriott also increased by 7.6% and 4.4%, respectively.
Regarding the portfolio regions, the Metropolitan, Central West, and Northeast continued to register the highest RevPAR increases for the third consecutive month, with gains of 22.2%, 16.0%, and 14.9%, respectively. The Bajío region continues to recover well, following a period in which it registered slower growth than the other regions in the portfolio.
Finally, consolidated revenue for July reached $354.9 million pesos, increasing by 14.6% vs. 2023.
Miranda Newswire – Full Press Release: Download PDF
Investor Relations Contact Details
Héctor Vázquez
Corporate Finance and IR
Phone: +52 55-5249-8067
E-mail: hvazquez@hotelescity.com