Hoteles City Express, S.A.B. de C.V. (BMV: HCITY), announced last week the opening of City Express Tuxpan, reaching 100 properties in operation. With this new hotel, the chain extends its coverage to more than 11,300 rooms in 29 states, 60 different cities along Mexico, one hotel in Costa Rica and one hotel in Colombia.
City Express Tuxpan is the seventh hotel of the chain in the state of Veracruz, with 108 rooms, and was developed under a management agreement. This new hotel will serve guests visiting Tuxpan, the closest maritime port to the capital of the country, and complements our presence in the main cities of the Gulf of Mexico.
The economic activity of Tuxpan includes the investment in a key trade port, Tuxpan II, which is expected to become one of the most competitive ports in the Gulf of Mexico. Additionally, the recently opened highway Mexico – Tuxpan and the planned highway Tuxpan – Tampico will bolster the logistics and commercial capacity of this city.
Comment from Luis Barrios, Chief Executive Officer of Hoteles City Express:
"During the last 12 years, Hoteles City Express has been one of the leading and fastest growing hospitality companies in Mexico. Since the opening of our first hotel in Saltillo, we have successfully realized our business plan, created a solid distribution platform and established one of the most valuable brands in the Mexican hospitality industry.
Underpinned by a business model characterized by innovation and executed under the concept of a vertically integrated hospitality platform, Hoteles City Express has built the most competitive, modern and consistent room inventory in the country.
We are extremely proud of the opening of our first 100 hotels and confident about the ongoing progress of the Company. Our growth to date is solid and establishes a business foundation we expect to build on. With the determination and focus of our team, I am convinced we will reach larger goals.
We are grateful to our guests for their continued preference, to our Board for their support and to our shareholders for their trust."
Hoteles City Express is considered the leading and fastest-growing limited-service hotel chain in Mexico, in terms of number of hotels, number of rooms, geographic presence, market share and revenues. Founded in 2002, Hoteles City Express specializes in offering high-quality, comfortable and safe lodging at affordable prices via a limited-service hotel chain geared mainly towards domestic business travelers. With 100 hotels in operation located throughout Mexico, Costa Rica and Colombia, Hoteles City Express operates four distinct brands: City Express, City Express Plus, City Express Suites and City Express Junior to serve different segments of its target market. In June 2013, Hoteles City Express completed its IPO and began trading on the Mexican Stock Exchange under the ticker symbol "HCITY;" furthermore, on October 8, 2014, Hoteles City Express completed a subsequent public offering of stock with the aim of accelerating its growth in new hotels in coming years.
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