Grupo Posadas, S.A.B. de C.V. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 08:01 am EDT
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Grupo Posadas, S.A.B. de C.V. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was MXN 2,492.14 million compared to MXN 2,622.59 million a year ago. Net loss was MXN 35.51 million compared to MXN 73.44 million a year ago. Basic loss per share from continuing operations was MXN 0.07 compared to MXN 0.15 a year ago. Diluted loss per share from continuing operations was MXN 0.07 compared to MXN 0.15 a year ago.
For the nine months, sales was MXN 7,986.96 million compared to MXN 7,513.72 million a year ago. Net income was MXN 637.97 million compared to MXN 90.04 million a year ago. Basic earnings per share from continuing operations was MXN 1.3 compared to MXN 0.18 a year ago. Diluted earnings per share from continuing operations was MXN 1.3 compared to MXN 0.18 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. 
