MEXICO CITY, July 22, 2019 /PRNewswire/ -- Hoteles City Express, S.A.B. of C.V. ("Hoteles City Express") (BMV: HCITY), today announced the closing and the payment of the purchase agreement of the City Express Chihuahua hotel and the cancellation of the City Express Junior Chihuahua hotel from its inventory.
Through the purchase agreement signed on May 22th 2019, Hoteles City Express agreed to acquire the hotel City Express Chihuahua from Deutsche Bank México, S.A., Institución de Banca Múltiple, División Fiduciaria F/1616 or "Fibra Inn". The hotel, which, as of today was operated by Gestor de Activos Prisma, SAPI de CV under a franchise agreement, will now be operated by Operadora de Hoteles City Express to optimize its performance. The corresponding cash flows will be consolidated under the company's own hotel inventory.
In addition, Hoteles City Express will remove the City Express Junior Chihuahua hotel from its inventory, which was also operated under a pure franchise agreement. The latter is due to the sale of the property to a third party.
As a result of the above announcements, the hotel inventory is now a total of 151 units and 17,121 rooms
About Hoteles City Express:
Hoteles City Express is 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. Created in 2002, Hoteles City Express specializes in offering high-quality, comfortable and safe lodging at affordable prices via a limited-service hotel chain geared mainly towards domestic business travelers. With 151 hotels located in Mexico, Costa Rica, Colombia and Chile, Hoteles City Express operates five distinct brands: City Express, City Express Plus, City Express Suites, City Express Junior and City Centro, to serve different segments of its target market. In June 2013, Hoteles City Express completed its IPO and began trading on the Mexican Stock Exchange under the ticker symbol "HCITY," and in October 2014, Hoteles City Express completed a follow-on share issuance with the aim of accelerating its growth in new hotels in the coming years.
For more information, please visit our website: https://www.cityexpress.com/inversionistas/
SOURCE Hoteles City Express, S.A.B. of C.V.