This transaction reduces the Company’s financial debt by $95,000,000.00 pesos, which will no longer be consolidated in its financials. The hotel portfolio now stands at 151 hotels and 17,394 rooms.
Additionally, Norte 19 valued the City Express by Marriott San Luis Potosí Universidad at $104,000,000.00 pesos (one hundred four million pesos) and acquired the remaining 50% stake for $52,000,000.00 pesos (fifty-two million pesos). This hotel is now part of the Company’s owned portfolio.
The Company will use the net proceeds to prepay $58,000,000.00 pesos (fifty-eight million pesos) of its syndicated loan, reducing interest payments and financial leverage.
This transaction reinforces Norte 19’s commitment to selling non-strategic assets to lower financial leverage.
Miranda Newswire – Full Press Release: Download PDF
Investor Relations Contact Details
Héctor Vázquez
Corporate Finance, Treasury, and IR
Phone: +52 55-5249-8067
E-mail: hvazquez@norte19.com