Grupo Posadas, S.A.B. De C.V. Reports Earnings Results for the Second Quarter Ended June 30, 2021
July 28, 2021 at 05:23 pm EDT
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Grupo Posadas, S.A.B. De C.V. Announced earnings results for the second quarter ended June 30, 2021. For the second quarter, the company announced sales was MXN 1,933.592 million compared to MXN 416.968 million a year ago. Operating income was MXN 91.093 million compared to operating loss of MXN 589.509 million a year ago. Net income was MXN 227.381 million compared to net loss of MXN 428.308 million a year ago. Basic earnings per share was MXN 0.45 compared to basic loss per share of MXN 0.88 a year ago. For the half year, sales was MXN 3,321.057 million compared to MXN 2,533.785 million a year ago. Operating loss was MXN 125.715 million compared to MXN 529.997 million a year ago. Net loss was MXN 431.481 million compared to MXN 2,087.714 million a year ago. Basic loss per share was MXN 0.88 compared to MXN 4.23 a year ago.
Grupo Posadas SAB de CV is a Mexico-based company engaged in the hospitality industry. The Company focuses on the construction, acquisition, leasing, promotion and management of hotels. Its activities are divided into five business segments: Hotels, which operates a network of hotels under Live Aqua, Fiesta Americana, Fiesta Inn, Gamma, The Exploration and One brand name, among others; Holiday Club, which manages a network of vacation resorts under various brand names, such as Fiesta Americana Vacation Club, Kivac and Live Aqua Residence Club; Hotels administration, which offers brand names and properties leasing, as well as hotel administration for third parties, among others; Corporate, which comprises operations within group entities, and Sale of real estate, which includes disposal of non-core real estate assets. The Company operates through Inmobiliaria Hotelera Posadas SA de CV, Posadas de Mexico SA de CV, Hotel Condesa del Mar SA and Porto Ixtapa SA de CV, among others.
GRUPO POSADAS, S.A.B. DE C.V. 
