Hoteles City Express, S.A.B. de C.V. Reports Earnings Results for the Second Quarter and Six Months Ended of 2020
July 22, 2020 at 08:05 pm
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Hoteles City Express, S.A.B. de C.V. reported earnings results for the second quarter and six months ended of 2020. For the six months, the company reported income of MXN 798,918,000 compared to MXN 1,521,907,000 a year ago. Operating loss was MXN 231,549,000 compared to operating profit of MXN 249,492,000 a year ago. Net loss was MXN 618,533,000 compared to net income of MXN 23,075,000 a year ago.
For the quarter,the company reported income of MXN 147,335,000 compared to MXN 804,873,000 a year ago. Operating loss was MXN 267,517,000 compared to operating profit of MXN 141,336,000 a year ago. Net loss was MXN 522,662,000 compared to net income of MXN 22,686,000 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. 
