Hoteles City Express Announces Signing of Binding Sale Agreement for a Plot of Land in Reynosa

hcity

Mexico City, December 16th, 2021 – Hoteles City Express, S.A.B. de C.V. (“Hoteles City Express” or “the Company”) (BMV: HCITY) announces, as part of the company’s asset recycling and liquidity strategy, the signing of a binding purchase and sale agreement for a plot of land in Reynosa for $18.0 million Mexican pesos (eighteen million pesos 10/100 M.N.). The transaction sale price represents a 50% appreciation over the acquisition cost. The closing of the transaction is expected to occur no later than March 2022.

As previously mentioned, the Company’s main focus is on deleveraging the balance sheet and continuing with different strategies to preserve and capture more liquidity.

 

Miranda Newswire – Full Press Release: Download PDF

 

Investor Relations Contact Details

Héctor Vázquez
Corporate Finance and IR
Phone: +52 55-5249-8067
E-mail: hvazquez@hotelescity.com 

Marimar Torreblanca
Miranda IR
Phone: +52 55-5282-2992
E-mail: marimar.torreblanca@miranda-partners.com 

 
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 152 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 October 8, 2014, Hoteles City Express completed a follow on with the aim of accelerating its growth in new hotels over the next few years.
For further information, please visit our website: https://www.cityexpress.com/en/investors/

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