Hoteles City Opens 13 New Hotels in Mexico
February 17 , 2014 -Hoteles City Express, S.A.B. de C.V. (BMV:HCITY) announced that in the last twelve months it opened 13 new hotels; 12 of which are strategically located in urban locations along the principal business, logistics, commercial and industrial corridors in Mexico, and its first hotel in Colombia (Cali). With these openings, Hoteles City reaches 84 hotels in operation, adding 1,467 new rooms to its portfolio for a total of 9,563 rooms. This represents an 18% room-count increase year-over-year.
Hoteles City opened the following hotels which comprised its 2013 Openings Pipeline:
City express Chetumal March 2013 Quintana Roo
City express Santa Fe June 2013 Mexico City
City Suites Santa Fe August 2013 Mexico City
City express Oaxaca October 2013 Oaxaca
City express Salinas Cruz October 2013 Oaxaca
City express Patio Universidad December 2013 Mexico City
City express La Paz December 2013 Baja California Sur
City junior Puebla Autopista December 2013 Puebla
City express Cali December 2013 Colombia
City express Cananea December 2013 Sonora
City express Irapuato Norte December 2013 Guanajuato
City junior Cd. del Carmen Isla de Tris February 2014 Campeche
City junior Cd. del Carmen Aeropuerto February 2014 Campeche
Mr. Luis Barrios, Hoteles City's Chief Executive Officer, commented: “We are delighted with the openings of our newest properties across Mexico and also our inaugural hotel in Colombia. These new hotels in Mexico complement our presence across the most dynamic economic hubs in the country, where we've performed with success, while our second international hotel aims for a new market with strong growth potential. The opening of these properties completes our 2013 pipeline and reflects a continuation of our business strategy of offering business travelers a high-quality, affordable lodging alternative in order to continue creating brand and shareholder value.”
During the remainder of 2014, Hoteles City plans to open between 14 to 16 hotels, all in Mexico, which comprises its 2014 Openings Pipeline. To date, 12 hotels are currently under construction.
Hoteles City is considered the leading and fastest-growing limited-service hotel chain in Mexico, in terms of number of hotels, number of rooms, geographic presence, market share and revenues. Founded in 2002, Hoteles City specializes in offering high-quality, comfortable and safe lodging at affordable prices via a limited- service hotel chain geared towards the domestic business traveler. With more than 80 hotels in operation located throughout Mexico, Costa Rica and Colombia, Hoteles City operates three distinct brands: City Express, City Suites and City Junior to serve different segments of its target market. In June 2013, Hoteles City successfully completed its IPO and began trading on the Mexican Stock Exchange under the ticker symbol “HCITY”.
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