HOTEL announces the acquisition of 933 rooms in Los Cabos and Nuevo Vallarta
15 Febrero 2017 - 9:30PM
Grupo Hotelero Santa Fe, S.A.B. Of C.V. (BMV:HOTEL) ("HOTEL" or
"the Company"), one of the leading companies in the hotel industry
in Mexico, announces the acquisition and expansion of two hotels
that will be rebranded into Krystal Grand® 5 star hotels, with a
total of 933 rooms under the All-Inclusive model. The transaction
is expected to close in the following days once the contractual
conditions have been met. The Krystal Grand® brand will grow from 2
to 4 hotels, and the Company will grow 16% in number of operated
rooms. The hotels are located in Los Cabos and Nuevo Vallarta, two
of the most important resorts destinations in Mexico, which are
recognized internationally as top tourist destinations with
significant connectivity to the main North American and European
markets. The total value of the assets is US$119.8 million,
approximately half of which will be financed with debt. HOTEL will
contribute US$29.8 million which represents 50% of the equity and
will consolidate both hotels’ operations. The other 50% of the
equity will remain with the group of private Mexican investors who
currently own the hotels.
The Krystal Grand® Los Cabos will be a 454 room
all-inclusive resort as of March 1st 2017; currently it has 267
rooms and will be operated by the Company under a different brand
until the before mentioned date. Additionally the hotel will have 6
restaurants and bars, a ball room and break out rooms for 1,000
people, all under compliance with Krystal Grand® standards. Los
Cabos is one of the most important resort destinations on the
Pacific Coast in Mexico with hotel occupancy of 70% in 2016(1). Los
Cabos International airport received 4.2 million passengers in
2016, a 25% increase compared to 2015, of which over 70% were
international passengers (2).
The Krystal Grand® Nuevo Vallarta will be a 479
room all-inclusive resort as of November 1st 2017; currently it has
230 rooms and will be operated by the Company under a different
brand until the before mentioned date. Additionally the hotel will
have 6 restaurants and bars, a ball room and break out rooms for
1,000 people, all under compliance with Krystal Grand® standards.
Nuevo Vallarta is one of the top destinations of the pacific coast
of Mexico with hotel occupancy of 70% in 2016(1). Puerto Vallarta
International airport received 4.1 million passengers in 2016, a
16% increase compared to 2015, of which over 65% were international
passengers (2).
With these projects, HOTEL will reach 23
operating hotels and 6,493 rooms, of which 3,410 hotel rooms will
be in the resort segment, representing 53% of the Company’s
portfolio. This investment is in line with the Company’s expansion
strategy, which aims towards growth in the main international
resort and urban destinations in Mexico in the 4 star and 5 star
categories, through hotels in key locations under our proprietary
Krystal® brands. The Company will continue seeking and analyzing
investment opportunities in hotels and properties as well as
third-party hotel management contracts in the ordinary course of
business.
(1) Source: Datatur – Tourism ministry of Mexico
(2) Source: Grupo Aeroportuario del Pacifico Website
About Grupo Hotelero Santa Fe
Grupo Hotelero Santa Fe is one of the leading
companies in the Mexican hotel industry, with Mexican DNA, and is
focused on acquiring, converting, developing and operating its own
hotels and third party-owned hotels. The Company is well-known for
the strategic location and quality of its assets, for its operating
efficiency resulting from its unique hotel management model,
characterized by the multifunctional efficiency of its employees
and a strict expense control. The Company owns the Krystal® brand,
which has considerable recognition in the Mexican market. HOTEL is
committed to continue offering an excellent place to work and
providing excellent services to its guests, respecting the
environment and striving to generate high profitability for its
investors. The Company has over 2,600 employees in Mexico, is part
of the ranking Super Empresas Expansión 2015 and its shares are
listed on the Mexican Stock Exchange (BMV:HOTEL). Furthermore, it
has been awarded as a Socially Responsible Company (“ESR” or
“Empresa Socialmente Responsible”). For additional information,
please visit www.gsf-hotels.com
Legal Note:
The information provided in this report contains
certain forward-looking statements and information related to Grupo
Hotelero Santa Fe, S.A.B. de C.V. and its subsidiaries (jointly
“Grupo Hotelero Santa Fe”, “HOTEL”, or the “Company”) which are
based in the understanding of its managers, as well as in
assumptions and information currently available for the Company.
Such statements reflect the current view of Grupo Hotelero Santa Fe
in regard to future events subject to a number of risks,
uncertainties and assumptions. Several features may cause that the
results, performance or current achievements of the Company may
differ materially with respect to future results, performance or
attainments of Grupo Hotelero Santa Fe that may be included,
expressly or implied within such statements in regard to the
future, including among others, alterations in the economic general
conditions and/or politics, governmental and commercial changes
globally or within the countries in which the Company has any
business interests, changes in the interests rates and inflation,
exchange rates volatility, changes in the demand and regulations of
the products marketed by the Company, changes in the price of raw
materials and other goods, changes in the business strategies and
several other features. If one or more of this of risks or
uncertainties are materialized, or if the assumptions used result
to be incorrect, the real results may materially differ from those
described herein as anticipated, believed, expected or envisioned.
Grupo Hotelero Santa Fe undertakes no obligation to update or
revise any forward-looking statements.
Contact Information
Enrique Martínez Guerrero
CFO
inversionistas@gsf-hotels.com
+52 55 5261 0800
Maximilian Zimmermann
IR Director
mzimmermann@gsf-hotels.com
+52 55 5261 4508