Grupo Posadas (POSADAS ) Q4 2024 earnings summary

Executive summary

• Q4 revenue reached $2,898 million MXN, up 17% sequentially; full-year 2024 revenue was $10,645 million MXN, a 2% year-over-year increase.

• Q4 EBITDA rose 82% sequentially to $764 million MXN; full-year EBITDA was $2,025 million MXN, up 13% year-over-year.

• Q4 net income was $388 million MXN, but a full-year net loss of $165 million MXN was recorded due to a $911 million MXN foreign exchange loss.

• Cash available at year-end was $2,602 million MXN, 41% higher sequentially, with 85% in USD.

• Pipeline includes 30 new hotels (4,760 rooms), representing 16% room growth, with most openings expected by 2027.

Financial highlights

• RevPAR increased 7% year-over-year in Q4; hotel occupancy was 67%, down 1 percentage point year-over-year.

• Q4 hotel business contribution rose 30% sequentially to $667 million MXN; loyalty segment declined 15% to $93 million MXN.

• Full-year hotel business contribution grew 7% to $2,090 million MXN; loyalty segment fell 15% to $312 million MXN.

• Loyalty membership net sales increased 2% year-over-year, totaling $719 million MXN in Q4.

• Total assets reached $22.9 billion after adopting fair value for fixed assets.

Outlook and guidance

• Forward-looking statements highlight risks from political, economic, and market factors, as well as natural events and health pandemics.

• 30 new hotels (4,760 rooms) to be added by 2027, with 61% in coastal destinations; company to contribute only 2% of total investment.

• Refurbishment of Fiesta Americana Condesa Acapulco expected to cost $610 million, with 16% financed by the company.