MEXICO CITY, June 10, 2020 (GLOBE NEWSWIRE) -- Grupo Hotelero Santa Fe, S.A.B. de C.V. (BMV: HOTEL) (“HOTEL” or the “Company”), one of the leading companies in the hotel industry in Mexico, announces that it will gradually be reopening its portfolio of hotels over the next few weeks based on aplicable local regulation. We estimate that by the end of July we will have all of our properties in operation, which have posted favorable reservation trends.
Our associates are enthusiastic and have received training for the implementation of our sanitary certification program under the name Stay Safe & Clean. We have also reprofiled our cash flow thanks to the support of the banks we work with, assuring adecuate working capital levels to restart operations.
HOTEL is a leading company in the Mexican hotel industry, dedicated to the aquisition, 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 3,700 employees and generated revenues of Ps. 2,238 million. For more information, please visit www.gsf-hotels.com.
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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