Hoteles City Announces Debt Prepayment of $800,000,000.00 (Eight Hundred Million 00/100 M.N.) Towards the Syndicated Loan

Mexico City, May 25th, 2023 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express”) (BMV: HCITY), informs investors about the recent prepayment of a portion of its syndicated loan, using part of the proceeds from the sale of its brands to Marriott International Inc. The prepayment, totaling $800,000,000.00 (eight hundred million 0/100 M.N.), resulted in a 20.6% reduction in the syndicated loan’s outstanding balance. This transaction strengthens the Company’s balance sheet and improve cash flow amidst a high-interest rate environment.

Following this operation, the remaining outstanding balance of the syndicated loan is $3,083,527,654 (three billion eighty-three million five hundred twenty-seven thousand six hundred fifty-four 00/100 M.N.). Hoteles City remains committed to its ongoing strategy of improving financial performance and reducing its leverage. At the same time, the Company is diligently working on refinancing the group loan, which is anticipated to conclude in the upcoming months.


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Investor Relations Contact Details

Héctor Vázquez
Corporate Finance, Treasury and IR
Phone: +52 (55) 5249 8067

Joe Leonard
Miranda IR
Phone: +1 (530) 559-1805
About Hoteles City Express
Hoteles City Express is the leading and fastest-growing limited-service hotel chain in Mexico, in terms of number of hotels, number of rooms, geographic presence, market share and revenues. Founded in 2002, Hoteles City Express specializes in offering high-quality, comfortable and safe lodging at affordable prices via a limited-service hotel chain geared mainly towards domestic business travelers. With approximately 150 hotels located in Mexico, Costa Rica, Colombia and Chile, Hoteles City Express operates five distinct brands: City Express, City Express Plus, City Express Suites, City Express Junior and City Centro, to serve different segments of its target market. In June 2013, Hoteles City Express completed its IPO and began trading on the Mexican Stock Exchange under the ticker symbol “HCITY” furthermore, on September 8, 2014, Hoteles City Express completed a follow on with the aim of accelerating its growth in new hotels over the next few years. During 2021, the Company commenced a capital increase process with the emission of ordinary shares, this process has not yet concluded.
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