Overview
- The hotel operator plans to divest 1,300 million pesos in non-strategic assets, with funds primarily earmarked to prepay debt and improve free cash flow.
- Third-quarter revenue reached 1,079 million pesos, up 3.6% year over year, while the company posted a net loss of 181.165 million pesos due to higher financial and administrative expenses.
- Reported EBITDA fell 35.5% to 151.3 million pesos, whereas Adjusted EBITDA rose 1.2% to 237.96 million pesos, reflecting exclusion of extraordinary restructuring costs.
- Management said the operational restructuring is complete, projecting 130 million pesos in annual savings and confirming the cancellation of non-strategic projects and platforms such as StackUp.
- Under its alliance with Marriott International, some City Express Plus hotels will migrate to brands including Courtyard, Aloft, Moxy and AC Hotels; shares closed up 4.13% at 5.30 pesos.