Earnings Report /
Mexico

Grupo Hotelero Santa Fe: HOTEL, Quarterly Report 2Q21: Faster than expected recovery

  • Notable advance due to higher hotel occupancy, higher rates and solid operating leverage boosted profitability

  • While occupancy remains below pre-pandemic levels (-10pp), EBITDA is only 4.5% below 2Q19

  • We expect a more accelerated recovery. This confirms our positive view on the company. We reiterate Buy

Jose Itzamna Espitia Hernandez
Jose Itzamna Espitia Hernandez

Senior Equity Research Analyst, Infrastructure, Materials and Transportation

Banorte
27 July 2021
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