Promotora de Hoteles Norte 19 Announces Third Quarter 2024 Results

Mexico City, October 16^th, 2024 – Promotora de Hoteles Norte 19 S.A.B. de C.V. (BMV: HCITY) (“Norte 19” or “The Company”), releases its results for the third quarter of 2024 (“3Q24”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).

Financial and Operating Highlights (3Q24)

• At the portfolio level, the Average Daily Rate (“ADR”) increased by 10.6% and the Revenue Per Available Room (“RevPAR”) increased by 12.2%, compared to 3Q23, reaching $1,332 and $763 pesos, respectively. The occupancy rate was 57.3%.
• Total revenue reached $1,042.4 million; a 17.6% increase compared to the same quarter of 2023.
• Operating income reached $124.9 million in 3Q24, an increase of 8.3% compared to the $115.3 million reported in the same quarter of last year.
• EBITDA and Adjusted EBITDA were $234.4 million and $235.0 million, respectively, in comparison to $219.5 million and $219.6 million in 3Q23. Adjusted EBITDA increased 7.0% from the previous year with a margin of 22.5% for the quarter.
• Net Income for the period registered a loss of $8.8 million compared to a loss of $38.6 million in the same quarter of the previous year.
• At the end of the quarter, the portfolio operated 152 hotels, one hotel more than the same quarter of the previous year. There were 17,533 rooms in operation during 3Q24, 167 more than the 17,366 rooms at the end of 3Q23.

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