This Wednesday City Express Hotels published its report to the Mexican Stock Exchange (BMV), where it detailed a loss of 49.2 million pesos at the end of the first quarter of the year and continued with the poor results of the last three years.
The decline occurred despite the fact that its sales grew by 34.6%, going from 624 to 840 million pesos, and that its occupancy rate increased by 8 basis points to stand at 53.3 percent.
Since the Covid-19 pandemic began, the hotel operator has reported positive profits only twice, although it continues to open branches in Mexico, Colombia, Chile and Costa Rica.
With 145 established hotels, the company ensures that the deadline for the inauguration of a new branch is 7 weeks, which would make it the fastest growing chain in the sector according to its data.
The company costs posted an increase of 10.7% year-over-year, while administrative expenses rose 11% over the same period last year.
His operating flowor (EBITDA), grew by 90.6% and reached 263,692 million pesos.
