Hoteles City Express, S.A.B. de C.V. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2022
February 22, 2023 at 03:09 pm EST
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Hoteles City Express, S.A.B. de C.V. reported earnings results for the fourth quarter and full year ended December 31, 2022. For the fourth quarter, the company reported sales was MXN 926.15 million compared to MXN 726.19 million a year ago. Net income was MXN 77.53 million compared to net loss of MXN 2.34 million a year ago. Basic earnings per share from continuing operations was MXN 0.2 compared to basic loss per share from continuing operations of MXN 0.01 a year ago. Diluted earnings per share from continuing operations was MXN 0.2 compared to diluted loss per share from continuing operations of MXN 0.01 a year ago.
For the full year, sales was MXN 3,176.53 million compared to MXN 2,273.8 million a year ago. Net income was MXN 35.07 million compared to net loss of MXN 396.35 million a year ago. Basic earnings per share was MXN 0.0911 compared to basic loss per share of MXN 1.03 a year ago. Diluted earnings per share was MXN 0.0911 compared to diluted loss per share of MXN 1.03 a year ago.
Hoteles City Express SAB de CV is a Mexico-based company, which owns and franchises a chain of hotels. The Company's activities are divided into two business segments: Hotel operations and Administration. The Hotel operations division includes management and rental of own hotels, as well as brand franchising. The Administration division provides administration services for hotel owners. The Company operates various hotel formats under a number of brand names, such as City Express, City Express Plus, City Express Suites, City Express Junior and City Centro. It owns over 120 hotels. The Company's hotel infrastructure is located in Latin America, including Mexico, Chile, Costa Rica and Colombia.
HOTELES CITY EXPRESS, S.A.B. DE C.V. 
