Hoteles City Express S.A.B. de C.V. (BMV: HCITY) (“Hoteles City Express” or “the Company”), Stated newly its results for the 3rd-quarter of 2k19 (“3Q19”). All accounting figures have been prepared in accordance with International Financial Reporting Standards (“IFRS”), except where noted, and are presented in Mexican Pesos (“$”).
Financial and Operating Highlights (3Q19)
- At the Chain level, Average Daily Rate (“ADR”) raised 6.0 percent and Revenue Per Available Room (“RevPAR”) reduced 0.50 percentage points contrast to 3Q18, to $1,021.00 and $596.00, respectively. Chain occupancy in 3Q19 was 58.40 percent.
- Total Revenues were $811.80M, which represents a 9.50 percent incline with respect to the similar quarter in 2k18, mainly because of a boost in the number of Occupied Room Nights at the Chain level and to higher ADR.
- Operating income was $128.40M in 3Q19, a 21.80 percent decline contrast to the similar quarter previous year, because of raised depreciation costs related to accounting adjustments under IFRS 16.0 and to higher energy costs.
- EBITDA and Adjusted EBITDA were $242.20M and $243.80M, respectively. EBITDA margin and Adjusted EBITDA margin for the duration were 29.80 percent and 30.00 percent, respectively.
- Net income for the duration was $19.60M.
- At the end of the quarter, the Chain was operating 151 hotels, a boost of 12 new units contrast to the 139 hotels operating at the close of a similar duration in 2k18. The number of rooms in operation in 3Q19 was 17,157, a boost of 9.30 percent contrast to 15,691 at the close of 3Q18.