Mexico City, November 20th, 2024 – Promotora de Hoteles Norte 19, S.A.B. de C.V. (“Norte 19” or “the Company”) (BMV: HCITY), announces its Hotel Indicators for October 2024.
The portfolio’s occupancy as of October 2024 was calculated based on 152 hotels and 17,533 rooms in operation. During the month, the Company sold its stake in the City Express Plus by Marriott San Luis Potosí hotel (139 rooms) and bought a minority stake in the City Express by Marriott San Luis Potosí Universidad hotel from its partner. As a result of this transaction, the Company’s portfolio now consists of 151 hotels and 17,394 rooms.
Occupancy stood at 58.8%, an increase of 1.9 percentage points vs. the same month of 2023. The average daily rate increased 9.8% vs. the same month of 2023, reaching $1,366 pesos, the highest rate in the Company hotel portfolio’s history. In October, RevPAR was $804 pesos, an increase of 13.6% vs. 2023.
The Company’s strategy to enhance hotel profitability, combined with a focus on leveraging trends in key markets, drove RevPAR increases across all portfolio regions. The average rate consistently outpaced annual inflation, with October’s year-over-year increase exceeding inflation by 5.0 percentage points.
All City Express by Marriott brands reported increases in RevPAR. Notably, the City Centro, City Express Plus, and City Express Junior by Marriott brands achieved RevPAR growth of 24.9%, 22.4%, and 13.5%, respectively, compared to the same month in 2023. The City Express and City Express Suites by Marriott brands recorded RevPAR increases of 10.1% and 5.7%, respectively.
By region, October marked the sixth consecutive month in which the Metropolitan, Northeast, and Central West regions recorded the highest RevPAR growths, increasing by 20.5%, 14.9%, and 13.6%, respectively. Additionally, the Central, Metropolitan, Northern Border, and Bajío regions achieved occupancy gains of over 6.8 percentage points compared to the same period last year. This performance, combined with the rate maximization strategy, resulted in RevPAR increases exceeding 12.7% in these regions.
Finally, consolidated revenue for October reached $349.8 million pesos, increasing by 11.0% vs. the same month of 2023.
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Investor Relations Contact Details
Héctor Vázquez
Corporate Finance, Treasury, and IR
Phone: +52 55-5249-8067
E-mail: hvazquez@norte19.com