Q3 2024 Grupo Hotelero Santa Fe SAB de CV Earnings Call Transcript
Key Points
- Grupo Hotelero Santa Fe SAB de CV achieved a 66.6% occupancy rate in the first nine months of 2024, marking the highest first nine months occupancy in the past seven years.
- The company posted a 25.7% EBITDA margin despite challenges, such as the remodeling of Krystal Beach Acapulco due to Hurricane Otis.
- RevPAR increased by 8.1% in the third quarter of 2024, driven by a 6.9% increase in ADR and a 0.7 percentage point growth in occupancy.
- Room revenue increased by 3% to MXN326 million in the third quarter of 2024 compared to the same period in 2023.
- Operating income increased by 26% to MXN72 million in the third quarter of 2024 compared to the third quarter of 2023.
- EBITDA decreased by 7.7% to MXN144 million in the third quarter of 2024 compared to the same period last year.
- Net income showed a loss of MXN86 million in the third quarter of 2024, compared to a MXN55 million loss in the third quarter of 2023, driven by higher foreign exchange currency rate losses.
- Vacation Club income decreased by 13% in the third quarter of 2024.
- The company faces cost pressures, particularly with wages and energy costs, impacting overall expenses.
- The Acapulco Hotel is still undergoing remodeling, with some rooms not yet operational, affecting potential revenue generation.
Portions of this transcript marked (technical difficulty) indicate audio problems. The missing text will be supplied if a replay becomes available.
(technical difficulty) (Operator Instructions) It is now my pleasure to turn the conference over to Max Zimmermann.
Good afternoon, and thank you for joining us today here. My name is Max Zimmermann, Investor Relations Director of Hotel, and I would like to welcome you to the company's earnings webcast for the third quarter of [2024]. On the line, we have Alberto Santana, our Administration Director. The presentation slides we will follow during this call are available on our webcast, which you can find in our Investor Relations section of our website.
Before we begin, I would like to remind you that this call is being recorded and that information discussed today may include forward-looking statements regarding the company's financial and operating
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