The portfolio’s occupancy as of September 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 55.4%, an increase of 2.5 percentage points vs. the same month of 2023. The average daily rate increased 11.6% vs. the same month of 2023, reaching $1,347 pesos, the highest rate in the Company hotel portfolio’s history. In September, RevPAR was $746 pesos, an increase of 16.7% vs. 2023.
Throughout the year, our focus on optimizing and maximizing rates has driven a steady increase in our hotel’s average rates, consistently surpassing inflation. As of September, the annual average rate increase was 7.0 percentage points higher than the inflation rate of 4.6% for the same period.
All City Express by Marriott brands saw increases in both occupancy and average rates. Notably, City Centro, City Express Suites, and City Express Plus by Marriott achieved RevPAR growth of 36.1%, 25.2%, and 22.5%, respectively, compared to the same month in 2023. The RevPAR of City Express Junior and City Express by Marriott also improved, with increases of 15.4% and 13.6%, respectively.
For the fifth consecutive month, the Metropolitan, Central West, and Northeast regions posted the highest RevPAR growth, with increases of 38.5%, 22.7%, and 18.2%, respectively. We’ve seen significant improvements in hotel occupancy in cities and metropolitan areas, with an 11.4 percentage point rise in occupancy and a 14.4% increase in average rates compared to the same month in 2023. The strong association between the City Express Plus by Marriott brand and our Metropolitan region hotels is contributing to this increase, where most of this brand’s properties are located.
Finally, consolidated revenue for September reached $339.6 million pesos, increasing by 22.9% 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