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HOTEL reports 20% and 17% increases in Total Revenues and EBITDA respectively for 1Q17

MEXICO CITY, April 20, 2017 (GLOBE NEWSWIRE) — Grupo Hotelero Santa Fe S.A.B. de C.V. (BMV:HOTEL) (“HOTEL” or “the Company”), announced its consolidated results for the first quarter (“1Q17”) ended March 31, 2017. Figures are expressed in Mexican Pesos, are unaudited and are in accordance with International Financial Reporting Standards (“IFRS”) and may vary due to rounding.

Highlights

  • 1Q17 EBITDA1 reached Ps. 150.6 million, a 16.5% increase compared to 1Q16 driven by revenue growth and efficiencies from operating leverage achieved in the quarter. 1Q17 EBITDA margin reduced to 38.9% due to a tough comparable base driven by holy-week in 1Q16 which this year was in April.
  • 1Q17 Total Revenue reached Ps. 387.0 million, a 20.1% increase compared to 1Q16, driven by the following increases: i) 18.0% in Room Revenue, ii) 18.8% in Food and Beverages Revenue, iii) 34.1% in Other Hotel Revenue and iv) 26.0% in management fees related to third-party owned hotels.
  • 1Q17 Net Income reached Ps. 184.9 million, a 162.7% increase compared to 1Q16.  Net income margin was 47.8%, driven by an FX gain combined with a higher operating income.
  • 1Q17 Net operating cash flow was Ps. 157.9 million, an increase of 37.1% compared to the Ps. 115.2 million reported in 1Q16. This increase was mainly due to working capital variations combined with a higher operating income.
  • Net Debt/EBITDA (LTM) ratio was 0.9x at the end of 1Q17. Operating cash flow in dollars represented 64.3% of total operating cash flow, thereby providing a natural hedge of the dollarized financial debt.
  • HOTEL’s total portfolio at the end of 1Q17 reached 5,124 rooms in operation, a 20.1% increase compared to the 4,265 rooms at end of 1Q16.
  • RevPAR2 for the Company-owned hotels rose by 6.5% in 1Q17 compared to 1Q16, driven by an increase of 6.8% in ADR2 with a stable occupancy.
                 
  First Quarter     3 months ended March
Figures in thousand Mexican Pesos 2017   2016   % Var.     2017   2016   % Var.
Total Revenue 387,041   322,151   20.1     387,041   322,151   20.1
EBITDA 150,646   129,276   16.5     150,646   129,276   16.5
EBITDA Margin 38.9%   40.1%   (1.2 pt)     38.9%   40.1%   (1.2 pt)
Operating Income 110,336   98,829   11.6     110,336   98,829   11.6
Net Income 184,926   70,391   162.7     184,926   70,391   162.7
Net Income Margin 47.8%   21.9%   25.9 pt     47.8%   21.9%   25.9 pt
Operating Cashflow 157,933   115,217   37.1     157,933   115,217   37.1
Occupancy 70.3%   70.5%   (0.2 pt)     70.3%   70.5%   (0.2 pt)
ADR 1,493   1,398   6.8     1,493   1,398   6.8
RevPAR 1,049   986   6.5     1,049   986   6.5
Note: operating figures belong to owned hotels.
               
 

 
1Q17 Conference Call Details:
HOTEL will host its earnings webcast (audio + presentation) to discuss results:
Date: Friday, April 21, 2017
 
Time: 12:00 p.m. Mexico City Time
  1:00 p.m. New York Time
 
To participate in the conference call and Q&A session please dial:
Telephone: U.S.: 1 800 863 3908
  International +1 334 323 7224
  Mexico: 01 800 847 7666
Conference password: HOTEL 000 
 
Webcast: The webcast will be in English. To follow the Power Point presentation and the audio of the call, please
  visit our website www.gsf-hotels.com/investors
   

About Grupo Hotelero Santa Fe

HOTEL is a leading company in the Mexican hotel industry, centered on acquiring, converting, developing and operating its own hotels as well as third party-owned hotels. The Company focuses on strategic hotel location and quality, a unique hotel management model, strict expense control and the proprietary Krystal® brand as well as other international brands. As of year-end 2016, the Company employed over 2,800 people at 23 hotels in Mexico and generated revenues of Ps. 1,221 million. For more information, please visit www.gsf-hotels.com
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EBITDA is calculated by adding Operating Income, Depreciation and Total Non-recurring expenses.

Revenue per Available Room (“RevPAR”) and Average Daily Rate (“ADR”).

CONTACT: Contact Information

Enrique Martínez Guerrero
Chief Financial Officer
[email protected]

Maximilian Zimmermann
Investor Relations Director
[email protected]