Mexico City, April 20th, 2022 – Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “the Company”), releases its results for the first quarter of 2022 (“1Q22”). Accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”) and are presented in Mexican Pesos (“$”).
Financial and Operating Highlights (1Q22)
- At the Chain level, the Average Daily Rate (“ADR”) increased 10.5% and the Revenue Per Available Room (“RevPAR”) increased 66.6%, compared to 1Q21, reaching levels of $1,064 and $481 pesos, respectively. The occupancy rate was 45.3%.
- The month-over-month recovery stands out: in March, occupancy at the Chain level was 14.5 pp above January’s occupancy, reaching a level of 52.6%. This represents a recovery of 89.7% vs 2019. Likewise, the average daily rate for March was $1,077, an all-time high.
- Total revenue was $624.1 million, a 59.7% increase compared to the same quarter in 2021.
- Operating profit was $10.7 million in 1Q22, compared to a loss of $110.0 million in the same quarter of last year.
- EBITDA and Adjusted EBITDA were $138.3 million and $138.7 million, respectively. This compares to the $9.9 million and $10.7 million registered in 1Q21. Adjusted EBITDA increased 1,201.6% from the previous year for a margin of 22.2% for the quarter.
- Net Income for the period was a loss of $29.2 million.
- At the end of the quarter, the Chain was operating 152 hotels, the same number as in the fourth quarter of 2021. The number of rooms in operation during 1Q22 was 17,331, 80 rooms less than the 17,411 rooms in operation at the end of 1Q21.
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