MEXICO CITY, Sept. 10, 2018 (GLOBE NEWSWIRE) -- 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 signing of a Management Contract for a 4-star hotel, the DoubleTree by Hilton Toluca with 142 rooms located in the industrial part of Toluca, Estado de Mexico. The hotel which is owned by a third party, is located on the Boulevard Industria Minera Avenue, very close to the General Motors, FCA, Coca-Cola FEMSA and Heineken plants. The hotel is in its final stages of construction and due to open by November 2018.
This Management Contract is in line with the Company’s expansion plan which contemplates growth in the urban hotel segment, with third party brands at strategically located hotels and contemplates third-party brands. With the inclusion of this hotel, the Company’s portfolio will reach 27 hotels with 6,632 rooms and presence in 18 cities in Mexico, including the hotels currently in construction or expansion. The Company will continue seeking and analyzing investment opportunities in hotels and properties for acquisition, change of use, development and third-party hotel Management Contracts as an ordinary course of business.
HOTEL is a leading company in the Mexican hotel industry, centered on acquiring, converting, developing and operating its own hotels as well as third party-owned hotels. The Company focuses on strategic hotel location and quality, a unique hotel management model, strict expense control and the proprietary Krystal® brand as well as other international brands. As of year-end 2017, the Company employed over 3,200 people and generated revenues of Ps. 1,581 million. For more information, please visit www.gsf-hotels.com.
Legal Note on Forward Looking Statements:
The information provided in this report contains certain forward-looking statements and information related HOTEL and its subsidiaries 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 these 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.
Enrique Martínez Guerrero
+52 55 5261 0800
+52 55 5261 4508