MEXICO CITY, March 03, 2020 (GLOBE NEWSWIRE) -- Grupo Hotelero Santa Fe, S.A.B. de C.V. (BMV: HOTEL) ("HOTEL" or "the Company"), one of the leading companies of the hotel industry in Mexico, announces that it has received a request from Jorge M. Perez and his Family via his Declaration of Trust, to acquire more than 5% and up to a maximum of 10% of the outstanding shares of the Company. Jorge M. Perez is the Chairman and Chief Executive Officer of the Related Group.
The Board of Directors was informed that Jorge M. Perez invests in a variety of sectors, that it is not a competitor of HOTEL, is currently holder of shares of the Company, does not intend to acquire the control of the Company and that any investment by said investor will be defined at its sole discretion based on the conditions of price, volume and availability of shares according to its internal investment criteria, through an act or succession of acts, at a market value and with its own resources.
In response to this request and in accordance with Article Nine of the Company bylaws, the Board of Directors of HOTEL has granted authorization to said investor to acquire more than 5% and up to a maximum of 10% of the outstanding shares of the Company.
HOTEL is a leading company in the Mexican hotel industry, dedicated to the acquisition, conversion, development and operation of its own hotels as well as third parties-owned hotels. The Company focuses on the strategic location and quality, of its hotels, a unique management model, strict expenses control and the Krystal® brand as well as other international brands. At the end of year 2019, it had more than 3,500 employees and generated revenues of Ps. 2,238 million. For more information, please visit www.gsf-hotels.com.
About Jorge M. Perez Declaration of Trust
Jorge M. Perez, Chairman and Chief Executive Officer of Related Group, together with his Family, have been at the forefront of South Florida’s complex urban evolution for over 30 years. A commitment to ‘building better cities,’ and a natural ability to identify emerging trends has made his one of the most trusted and influential names in real estate. Related is armed with a dynamic selection of land parcels, new financing techniques, the collective strength of Related’s management team and a pipeline of more than 80,000 residential units.
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” 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 vision of Grupo Hotelero Santa Fe in regard to future events and are 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 does business, 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 these of risks or uncertainties are materialized, or if the assumptions used prove 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.
Enrique Martínez Guerrero
+52 55 5261 0800
+52 55 5261 4508
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