2 - Santa Fe Grupo Hotelero

Company Presentation
September 2016
1
Santa Fe at a Glance
We are one of the leading companies in the hotel industry, with a
Mexican DNA; our focus is in acquiring, converting, operating owned
and third-party hotels as well as developing.
We are renowned for our operating efficiency and our proprietary
Krystal brand.
We are committed to continue being a Company that is a great place to
work, and provides an excellent service to our guests, we respect our
environment and generate a high profitability to our shareholders.
We belong to the ranking of “Super Empresas Expansion 2015” and our
personnel amounts to over 2,600 staff members.
CONFIDENTIAL
2
Grupo Hotelero Santa Fe
CONFIDENTIAL
3
HOTEL Snapshot
Current Portfolio = 5,022 Keys
HOTEL Overview
Team with 6 years in the company, but with more
P Executive
than 20 years working together
hotels:
P Portfolio of1119owned
and 8 under Management Agreement
17 operating and 2 under construction
Properties
Category
# Keys
# Keys
4 Stars
1,369
27%
Resort
2,231
44%
Urban
2,791
56%
Stabilization Stage
# Keys
Coinvestment
584
12%
Segment
# Keys
Development
550
11%
Owned 2,241
46%
Stabilized
2,556
51%
Figures since IPO (September 2014)
37%
113%
Brands
# Keys
5 Stars
1,799
36%
Maturity Stage
1,916
38%
Management
2,097
42%
Grand
Tourism
1,854
37%
EBITDA LTM
Growth
72%
Others
1,110
22%
EV/ EBITDA LTM
Decrease
Revenues LTM
Growth
32%
Krystal
3,912
78%
Keys under Management
Growth
4
Key Events in Santa Fe history
 Santa Fe acquires the Avalon
Acapulco, now Krystal Beach
Acapulco and the Hyatt Regency
Cancun, now Krystal Grand
Cancun.
 Grupo Chartwell joint venture
with Nexxus Capital and
Walton St. Capital for the
creation of Grupo Hotelero
Santa Fe ("Santa Fe"), keeping
the original management team.
 A CKD fund acquires the Meliá
Reforma, now Krystal Grand
Reforma Uno, an emblematic hotel
with 500 keys, and execute the
management agreement with Santa
Fe after a selection process.
 Opening of the Krystal
Urban Guadalajara, first
hotel which represents
a use conversion for the
Company.
 Santa Fe performs in
June 2016 a Follow On
for
MX$
1,832.5
2015
millions which includes
the exercise of the
Green Shoe
2014
2013
2010
 Santa Fe performs their IPO
in the
Mexican Stock
Exchange for
MX$ 750
millions under the ticker
HOTEL.
 Santa Fe acquires the B2B
Cancun hotel, now Krystal
Urban Cancun Centro.
2012
 Santa Fe acquires the Krystal
Brand from NH Hotels
 Santa Fe acquires the Hilton
Guadalajara, Hilton Garden
Inn Monterrey and Hilton
Garden Inn Ciudad Juárez
hotels from NH Hotels
2016
 Santa Fe acquires the Maria
Bárbara hotel, now Krystal
Satélite Maria Bárbara.
 Santa Fe makes a coinvestment with local partner
for the development of the
Krystal Grand Insurgentes
hotel and the Krystal
Residences
&
Suites
Insurgentes.
 Santa Fe opens the Hilton Puerto
Vallarta, Mexico, first hotel
developed by the Company.
CONFIDENTIAL
5
Hotels Incorporated since the IPO
10 Hotels with 1,597 Keys
Monterrey
Aeropuerto
September 2015
Co-investment @15%
Satélite
Maria Bárbara
May 2015
Owned
Krystal Monterrey
July 2016
Management
Krystal Urban
Guadalajara
March 2016
Owned
Insurgentes, Ciudad de México
December 2015
Owned @ 50%
Under Development
Opens in 2018
Krystal Urban Cancún
December 2014
Owned
Cancún (expansión)
July 2015
Management
Aeropuerto
Ciudad de México
December 2015
Management
Paraíso, Tabasco
October 2015
Management
Krystal Suites Insurgentes,
Ciudad de México
Septiembre 2017
Owned @ 50%
Under Development
Opens in Q32 017
6
Portfolio under Development
•
•
•
•
•
Krystal Grand Insurgentes
Krystal Residences & Suites Insurgentes
(Mexico City)
(Mexico City)
•
•
•
50% Ownership
250 Keys
Grand Tourism
Gastro Center
Condo Hotel
Opens: 2018
50% Ownership
200 Keys
5 Stars
Opens: 3Q 2017
Actualizar
CONFIDENTIAL
7
Krystal Grand Punta Cancun Expansion
•
Expansion of 100 suites meaning an increase of 34% of existing rooms inventory.
•
Under Development (Permits and Licensees in place)
•
Opens in 3Q 2017
•
¿WHY THE EXPANSION?
•
KGPC´s RevPAR is 50% higher than the average RevPAR of the company
•
Occupancy in Cancun is in average 18% higher than Mexico as country average (Datatur, 2016)
•
Expecting synergies and overhead leverage shall increase operating margins
Artist renderings
8
Santa Fe Footprint
Presence in Mexico’s main Urban and Resort destinations.
Portfolio of 19 hotels and 5,022 keys
Ciudad Juárez:
1. Krystal Urban
Ciudad Juárez
Monterrey:
1. Hilton Garden Inn Monterrey
2. Hilton Garden Inn Monterrey Aeropuerto @15% ownership
3. Krystal Monterrey
Tabasco:
1. Hampton Inn & Suites
Paraíso, Tabasco
Puerto Vallarta:
1. Krystal Resort Puerto Vallarta
2. Hilton Puerto Vallarta
Cancún:
1. Krystal Resort Cancún
2. Krystal Grand Punta
Cancún (+Expansion)
3. Krystal Urban Cancún
Centro
Guadalajara:
1. Hilton Guadalajara
2. Krystal Urban Guadalajara
Operating
Under Development
Ixtapa:
1. Krystal Resort Ixtapa
Owned Hotels
Acapulco:
Zona Metropolitana:
1. Krystal Beach Acapulco
1. Krystal Grand Reforma Uno
2. Krystal Urban Aeropuerto Ciudad de México
3. Krystal Satélite María Bárbara
4. Krystal Residences & Suites (Opens in 2017)
5. Krystal Grand Insurgentes (Opens in 2018)
Note: Figures include owned hotels, third-party managed hotels and projects under construction..
CONFIDENTIAL
9
Krystal® Brand Architecture
2 Cities
5 Cities
1 City
4 Cities
3 Hotels
6 Hotels
1 Hotel
4 Hotels
1,145
1,799
400
568
Hotels
Rooms
Rooms
Rooms
Rooms
3,912
Resort and
Urban
Resort and
Urban
Resort
Urban
Keys
Grand
Tourism
5 Stars
4 Stars
4 Stars
14
Note: Figures include owned hotels, third-party operated hotels and developments.
CONFIDENTIAL
10
Krystal Urban Guadalajara
11
Operating Model Focus on profitability with an efficient cost
structure
Flexibility
Adaptability
Efficiency
Operating Model
P
Resort
Krystal
4
5
Urban
European
Plan
All
Inclusive
P
P
Hybrid
P
P
Focus in our Krystal brand —value, scale and
profitability, over 3 Billion pesos invested in
Krystal Assets in the las 36 months by GHSF and
third party investors
66% domestic customers. High penetration of
the Krystal brand
Balance Portfolio take advantage of seasonality
in destiny´s
Management of different categories, destiny´s
and brands: Diversification
Multifunction Model of personnel in the hotels
which allows us to get efficiencies. EPAR HOTEL:
0.58
Main Focus
1
EPAR: Employees per Available Room .
12
Diversified Distribution Channels
HOTEL has developed different products and concepts which maintain our brands within the
preference of domestic and international travelers
Commercial Models Examples
Diversified Distribution Channels
European Plan
Urban Hotels LTM 2Q16
Krystal Grand
Reforma Uno
Hilton
Guadalajara
Indirect, 35%
Hilton Garden Inn
Monterrey
Krystal Urbano
Ciudad Juárez
Hybrid (European Plan and All Inclusive)
Krystal Urban
Cancún
Direct, 65%
Krystal Puerto
Vallarta
Resorts Hotels LTM 2Q16
Krystal Grand
Punta Cancún
Krystal Ixtapa
Indirect, 78%
Krystal Beach
Acapulco
All Inclusive
Hilton Puerto
Vallarta
Direct, 22%
Increasing Strength in Direct Distribution Channels benefits
profitability
13
Case 1:
Krystal Grand Punta Cancun
Krystal Grand Punta Cancun
Acquired on September 2013
(formerly Hyatt Cancun)
90.0
Million
Pesos
Millon
Pesos
35.0%
80.0
30.0%
70.0
25.0%
60.0
50.0
20.0%
40.0
15.0%
30.0
10.0%
20.0
5.0%
10.0
-
0.0%
2013
Hyatt EBITDA
2014
KGPC EBITDA
2015
EBITDA Margin
14
Case 2:
Turnaround of Krystal Satelite (Greater Mexico City)
Acquired in May 2015
Product Improvement Plan
• Renovation of hotel premises (rooms, lobby, restaurants and ball
rooms).
Sales & Marketing Plan
• Strategic plan with direct distribution channels, Krystal Rewards loyalty
program, corporate and commercial accounts, OTA’s, and other
distribution channels.
Operations
• Cost and expense analysis.
• Processes reengineering and employee training programs.
• Operating efficiencies.
• Improve quality standards.
15
HOTEL as Manager for third parties
HOTEL always maintains an operating focus for Top Line and Bottom Line
% Keys under Management
# Keys
Co-investment
584
12%
Owned
2,241
46%
Management
2,097
42%
Krystal Grand Reforma Uno Revenues
Operating Model
• Operating Model which allows:
 Reach Efficiencies
 Multifunctional personnel
 Flexibility and adaptability with our Krystal brand
 High Standards of Quality and Service
• Management Team:
 Experience with proven track record
 Market Knowledge, the markets and customers
 High quick reaction capacity (trends, environment and operating conditions)
• Investments:
 Capacity to co-invest in properties
 Technical Assistance in hotels under development to make investment more efficient
Krystal Grand Reforma Uno
2Q16 vs 2Q15
• Renovation and positioning of the hotel through the Krystal Grand brand in March 2014
• From 2013 through 2Q16:
 GOP increase 12 pp
 EBITDA increase 70%
Before Renovation
1
After Renovation
2
16
Key Operating Statistics
Solid performance drives profitability.
Occupancy
%
57.0%
61.3% 59.9%
65.1%
Average Daily Rate (ADR)
68.6% 69.0% 67.8% 68.7% 70.1% 70.5%
Pesos
1,253
1,022
1,050
1,041
1,325
1,293
1,163
1,135
1,365
1,224
+ 12%
2011
2012
2013
2014
2015 Jun-16 2015
Annual
LTM
2016
2015
2Q
2016
2011
2012
2013
2014
Annual
6M
2015
2Q
2016
6M
Number of rooms
Pesos
860
915
643
888
789
739
963
4,515
858
+ 12%
623
2012
2013
Annual
2014
2015 Jun-16 2015
LTM
2016
2Q
2015
2016
6M
3,944
3,292
2011
2,107
2012
Note: Figures include owned hotels, third-party operated hotels and developments excluding KPI’s.
CONFIDENTIAL
4,715
4,715
3,944
1,848
2011
LTM
2016
Total Rooms
Revenue per Available Room (RevPAR
582
2015 Jun-16 2015
2013
Annual
2014
2015
Jun-16
LTM
2015
2016
2Q
17
Key Financial Indicators
Solid revenue growth and strong EBITDA generation.
Revenue Breakdown
EBITDA
40.0%
Million Pesos
1,099
960
35.0%
159
CAGR: 37.1%
722
136
112
269
292
46
59
59
74
167
159
2011
2012
254
Rooms
2014
2015
Foods & Beverages
LTM Jun-16
29.2%
30.0%
CAGR: 27.2%
20.0%
272
635
407
2013
29.3%
26.5%
378
15.0%
556
34.4%
28%
25.0%
86
141
33.2%
31.5%
14%
△ : 24.4%
202
272
33.8%
30.0%
305
481
Million Pesos
219
39
75
30
63
126
157
2T15
2T16
10.0%
58%
5.0%
△ : 27.8%
319
211
92
92
2011
2012
127
64
82
2T15
2T16
0.0%
Other
2013
2014
EBITDA
CONFIDENTIAL
2015
LTM Jun-16
EBITDA Margin
18
Key Financial Highlights – Financial Debt
Figures in thousand Mexican Pesos
Debt*
Short Term
Long Term
Total
% Total
Average rate of financial liabilities
Denominated in (currency):
Pesos
Dollars
Total
11,532
90,155
101,687
204,160
927,963
1,132,124
215,692
1,018,119
1,233,811
17.5%
82.5%
100.0%
7.30%
3.75%
4.37%
Cash and equivalents**
Net Debt
1,410,964
(1,195,271)
340,613
677,506
1,751,577
(517,766)
Net Debt / LTM EBITDA (as of 30 June 2016)
-1.4x
*Includes accrued interests and bank lo an o riginatio n expenses.
**Includes restricted cash related to bank debt.
•
As a result of the FOP offer, for 2Q16 Net Debt was negative Ps. (517.0) million, which represents Net Debt/ LTM EBITDA
-1.4x.
•
82.5% of total debt is U.S.-dollar denominated with an average cost of 3.75%, and 17.5% is peso-denominated with an
average weighted cost of 7.30%. In addition, 91.8% of debt maturities are long-term.
•
Vencimientos
de Grupo
Hotelero
Santa Fe
HOTEL has a dollar-denominated cash balance
of Ps. al340.6
million,
decreasing
its exposure to currency risks.
30 de junio de 2016
% Deuda Total
21.7%
14.7%
9.2%
10.1%
9.9%
10.1%
9.7%
6.9%
4.0%
2016
3.7%
2017
2018
2019
2020
2021
2022
2023
2024
2025
Año
19
Currency Hedging
Figures in thousand of Mexican Pesos
Currency Hedging Analysis
Total Revenue
% of Total Revenue
( - ) Total Costs and Expenses
( - ) Non-recurring Expenses
Operating Income
( + ) Depreciation
Operating Cashflow
% of Operating Cashflow
Interest
Principal
Total Debt Service
Second Quarter 2016
Denominated Denominated
in Pesos
in USD
186,590
85,326
68.6%
31.4%
160,860
54,275
9,564
16,166
31,051
24,784
40,950
31,051
56.9%
43.1%
2,229
5,561
7,790
9,039
19,589
28,629
Interest Coverage Ratio 1
18.4x
3.4x
2
Debt Service Coverage Ratio
5.3x
1.1x
1) Operating Cashflow / Interest; 2) Operating Cashflow / Total Deb t Service
Total in
Pesos
271,915
100.0%
215,135
9,564
47,217
24,784
72,001
100.0%
11,269
25,151
36,419
6.4x
2.0x
Year-to-date 2016
Denominated Denominated
in Pesos
in USD
390,438
203,629
65.7%
34.3%
353,656
78,986
15,379
21,402
124,643
49,416
70,819
124,643
36.2%
63.8%
4,213
7,715
11,928
16.8x
5.9x
19,589
42,157
61,747
6.4x
2.0x
Total in
Pesos
594,067
100.0%
432,642
15,379
146,045
49,416
195,462
100.0%
23,803
49,872
73,675
8.2x
2.7x
•
For 2Q16, 31% of total revenue and 43% of operating cash flow were denominated in US Dollars.
•
The Company’s YTD dollar-denominated operating cash flow provided an ICR of 6.4x and a DSCR
of 2.0x.
20
Global Follow On Public Offer
•
FOP offer of 215.58 million shares @ Ps.
8.5 per share or Ps. 1,832.5 million to
continue execution of expansion plan and
with an oversubscription of 2X.
•
Equity increased 88.1% vs
strengthening financial position.
•
Shares increased from 275.50 million to
491.08 million and float increased from
27.2% to 46.12% or 2.34x in terms of
number of shares.
•
Stock trading volume has increased
significantly. In the last 30 days, ADTV as %
of total shares has increased by more than
8.0x when compared to the LTM period
prior to the FPO. Our ADTV for the last 30
days is $6.0 Million PS.
•
HOTEL currently has a MEDIUM liquidity
level, increasing from a LOW liquidity level.
2Q15,
21
GHSF’s Growth Strategy
Take advantage of our operating capacity and commercialization to accelerate growth
and value creation.
• Continue with our focus in providing extraordinary results both in stabilized hotels
and hotels in stabilization stage.
• Create additional revenue opportunities within our properties through active asset
management.
• Capitalize our operating capacity and continue our growth via acquisitions,
conversions , third-party management and development.
• Continue to increase our Krystal brand’s presence in the 4 and 5 stars in Key Urban
& Resort Markets segments.
• Take advantage of the low penetration of hotel chains and increase our presence.
• Increase the number of third-party hotels under management to expand our
network.
CONFIDENTIAL
22
Appendix
Financial Statements
and Exhibits
CONFIDENTIAL
23
Income Statement
Figures in thousand Mexican Pesos
Income Statement
2016
Room Revenue
157,068
125,866
31,202
24.8
342,490
263,366
79,124
30.0
Food and Beverage Revenue
75,478
62,825
12,654
20.1
163,690
127,100
36,591
28.8
Other Revenue from Hotels
22,290
19,462
2,827
14.5
50,434
41,974
8,460
20.2
Third-party Hotels' Management Fees
17,080
10,495
6,585
62.7
37,452
22,880
14,572
63.7
Total Revenue
271,915
218,648
53,268
24.4
594,067
455,319
138,747
30.5
Cost and Operating Expenses
106,710
92,492
14,218
15.4
220,581
181,263
39,318
21.7
79,135
58,589
20,547
35.1
154,259
114,940
39,319
34.2
4,505
3,750
756
20.1
8,386
7,013
1,373
19.6
24,784
21,558
3,226
15.0
49,416
42,587
6,830
16.0
215,135
176,388
38,746
22.0
432,642
345,802
86,840
25.1
9,564
9,966
(402)
15,379
13,179
2,200
16.7
81,565
30.0%
63,817
29.2%
17,748
0.8%
27.8
2.8
210,841
35.5%
152,104
33.4%
58,737
2.1%
38.6
6.2
47,217
17.4%
32,294
14.8%
14,923
2.6%
46.2
17.6
146,045
24.6%
96,338
21.2%
49,708
3.4%
51.6
16.2
(74,768)
(32,633)
(42,135)
129.1
(80,756)
(76,268)
(4,488)
5.9
390
83
307
369.7
1,100
139
961
689.9
Sales and Administrative
Other Expenses
Depreciation
Total Costs and Expenses
Total Non Recurring Expenses
EBITDA
EBITDA Margin(%)
Operating Income
Operating Income Margin (%)
Net Financing Result
Undistributed income from subsidiaries, net
Income before taxes
Total income taxes
Net Income
Net Income Margin (%)
Second Quarter
2015
$ Var.
% Var.
(4.0)
2016
6 months ended June
2015
$ Var.
% Var.
(27,161)
(256)
(26,905)
NA
66,389
20,209
46,180
228.5
(6,776)
(205)
(6,571)
NA
16,384
4,042
12,342
305.4
(20,391)
(7.5%)
(51)
(0.0%)
(20,340)
(7.5%)
NA
NA
50,000
8.4%
16,167
3.6%
33,832
4.9%
209.3
137.0
CONFIDENTIAL
24
Balance Sheet
Figures in thousand Mexican Pesos
Balance Sheet Summary
Cash and cash equivalents
Accounts receivables and other current assets
Creditable taxes
Escrow deposit for hotel acquisition
Total current assets
Restricted cash
Property, furniture and equipment
Other fixed assets
Total non-current assets
Total Assets
Current installments of long-term debt
Ohter current liabilities
Total current liabilities
Long-term debt
Other non-current liabilities
Total non-current liabilities
Total Equity
Total Liabilities and Equity
Jun-16
1,691,328
351,175
116,795
10,250
2,169,549
60,248
3,038,916
266,587
3,365,751
5,535,300
101,687
201,109
302,796
1,132,124
89,348
1,221,472
4,011,032
5,535,300
CONFIDENTIAL
Jun-15
83,854
109,440
87,588
31,800
312,682
42,882
2,664,963
287,719
2,995,564
3,308,246
75,572
150,940
226,512
863,345
85,969
949,314
2,132,420
3,308,246
Var $
1,607,475
241,735
29,207
(21,550)
1,856,867
17,366
373,952
(21,132)
370,187
2,227,054
26,115
50,169
76,284
268,779
3,379
272,158
1,878,612
2,227,054
Var %
1917.0%
220.9%
33.3%
(67.8%)
593.9%
40.5%
14.0%
(7.3%)
12.4%
67.3%
34.6%
33.2%
33.7%
31.1%
3.9%
28.7%
88.1%
67.3%
25
Cashflow
Figures in thousand Pesos
Cash Flow Statement
Second Quarter
2015
Var.
2016
% Var.
2016
6 months ended June
2015
Var.
% Var.
Cashflow from operating activities
Net income
(20,391)
(51)
50,000
16,167
33,833
209.3
15.0
49,416
42,587
6,829
16.0
3207.8
16,384
4,042
12,342
305.3
24,784
Income taxes
(6,776)
Unrealized gain (loss) in foreign currency exchange
71,516
18,107
53,409
295.0
66,523
55,620
10,903
19.6
Net interest expense
9,714
8,297
1,417
17.1
21,850
13,986
7,864
56.2
Other financial costs
761
142
618
434.7
2,202
481
1,721
357.9
78,507
47,847
30,660
64.1
205,275
132,883
72,392
54.5
17,399
1,062
16,337
1537.6
17,079
23,716
(357.4)
95,906
48,910
46,996
96.1
222,355
96,108
76.1
10,800
44,996
(34,196)
106,706
93,906
12,801
(119,904)
66,804
(186,708)
Working capital
Net operating cashflow
Non-recurring items
Cashflow net from non recurring items
Investment activities
Financing activities
Net (decrease) increase in cash and cash equivalents
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period
Cash in business acquisition
Total Cash at the end of the period
(205)
3,226
NA
Depreciation and amortization
Cashflow before working capital variations
21,558
(20,340)
(6,571)
NA
13.6
(279.5)
(4,841)
(6,636)
126,247
65,930
(70,772) (107.3)
217,513
192,177
25,336
13.2
(232,202)
(152,407)
(79,795)
52.4
1,587,008
(268,856) 1,855,863
(690.3)
1,608,288
(305,146) 1,913,434
(627.1)
1,573,810
(108,146) 1,681,956
(1555.3)
1,593,600
(265,376) 1,858,976
(700.5)
(38.4)
97,729
348,133
1943.7
1,691,329
82,757
117,518
190,903
1,691,329
82,757
-
1,097
1,691,329
83,854
CONFIDENTIAL
(73,385)
1,608,572
(1,097)
1,607,475
NA
1917.0
1,691,329
1,097
83,854
(250,404)
1,608,572
(1,097)
1,607,475
(71.9)
1943.7
NA
1917.0
26
Tourism in Mexico
Mexico ranks
# 9in terms of
arrival of
international
travelers
worldwide
Mexico ranks
# 8 in terms of
GDP Tourism
contribution
worldwide
Mexico ranks
# 6 in terms of
Tourism job
creation
worldwide
Tourism GDP Contribution as of 2015
Mexico ranks
# 9 in terms of
investment in
the Tourism
Sector
worldwide
Penetration of chains in the Hotel Industry
100%
8.50%
90%
80%
31%
70%
60%
72%
79%
28%
21%
50%
3.60%
40%
3.50%
30%
2.60%
69%
20%
10%
0%
MEX
EUA
UNIÓN EUROPEA
USA
BRASIL
Chain
Sources: WTTC y JLL
CONFIDENTIAL
Brazil
Independent
Mexico
27
Hotel Sector: a big opportunity
Touristic activity expenditure by nationality
2015 business and pleasure traveling expenditure*
Foreign
11%
Business
10%
2016 expected growth:
2016 expected growth:
Leisure: 6.0%
Business: 6.5%
Foreign: 9.5%
Domestic: 5.6%
Leisure
90%
Domestic
89%
* International Travelers
Target Market
Total Population: 120 mm
0%
7%
14%
10%
20%
Middle Class anual expenditure
per capita (USD)
12,000
35mm
10,000
31%
17%
30%
40%
Occupancy: Industry vs HOTEL
10,463
8,000
50%
36%
60%
6,000
4,179
70%
4,000
80%
26%
90%
2,000
100%
C+
C
D+
DE
+ 10 pp
2010
-
AB
75%
70%
65%
60%
55%
50%
45%
40%
2010
2011
2012
2013
2014
2015
2020 E
Industry
Sources: WTTC; DATATUR, CONAPO, INEGI and GHSF
CONFIDENTIAL
HOTEL
28
Contact Information
For more information please contact:
Enrique Martínez Guerrero
CFO
emartinez@gsf-hotels.com
+52 (55) 5261-0800
Miguel Bornacini Reynoso
IRO
inversionistas@gsf-hotels.com
+52 (55) 5261-0800
Please visit our website: www.gsf-hotels.com
Legal Note on Forward Looking Statements:
The information provided in this report contains certain forward-looking statements and information related to Grupo Hotelero Santa Fe, S.A.B. de C.V. and its
subsidiaries (jointly “Grupo Hotelero Santa Fe”, “HOTEL”, or the “Company”) 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 of this 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.
CONFIDENTIAL
29