Grupo Posadas (POSADAS ) Q3 2026 earnings summary

Executive summary

• Q3 revenue was MXN 2,522.0 million, down 5.2% YoY; IFRS EBITDA was MXN 254.2 million, down 30.6%, and net majority loss was MXN 85.1 million.

• Weaker international demand, particularly from the U.S., weighed on hotel performance; cash was MXN 1.4 billion at quarter-end and all financial covenants remained in compliance.

Financial highlights

• 9M revenue was MXN 8,203.7 million, down 2.6% YoY; IFRS EBITDA was MXN 1,060.5 million, down 26.1%.

• Q3 operating profit was MXN 4.1 million versus MXN 101.4 million in 3Q25; EBITDA margin was 10.1% versus 13.8%.

• Q3 net majority loss was MXN 85.1 million versus MXN 3.5 million in 3Q25; 9M net majority loss was MXN 111.6 million versus income of MXN 448.6 million.

• Q3 comprehensive financing cost was MXN 84.5 million, up 28.9% YoY; 9M cost was MXN 390.0 million versus MXN 77.8 million in 9M25.

Outlook and guidance

• No hotels opened in Q3; ~780 rooms are expected to be added in Q4.

• The pipeline comprises 36 hotels and 4,790 rooms, representing 16% growth in room supply; 61% of pipeline rooms are in coastal destinations.

• Owners’ commitments indicate all 36 pipeline hotels are expected to be operating by 2028; agreements have an average operating-contract life of more than 15 years.