Grupo Posadas, S.A.B. De C.V. Reports Earnings Results for the First Quarter Ended March 31, 2021
April 29, 2021 at 06:12 pm IST
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Grupo Posadas, S.A.B. De C.V. Announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was MXN 1,387.466 million compared to MXN 2,116.816 million a year ago. Operating loss was MXN 216.807 million compared to operating Income of MXN 59.514 million a year ago. Net loss was MXN 658.862 million compared to MXN 1,659.406 million a year ago. Basic loss per share was MXN 1.33 compared to MXN 3.35 a year ago. Basic loss per share from continuing operations was MXN 1.33 compared to MXN 3.34 a year ago.
Grupo Posadas SAB de CV is a Mexico-based company engaged in the hospitality industry. The Company focuses on the construction, acquisition, leasing, promotion and management of hotels. Its activities are divided into five business segments: Hotels, which operates a network of hotels under Live Aqua, Fiesta Americana, Fiesta Inn, Gamma, The Exploration and One brand name, among others; Holiday Club, which manages a network of vacation resorts under various brand names, such as Fiesta Americana Vacation Club, Kivac and Live Aqua Residence Club; Hotels administration, which offers brand names and properties leasing, as well as hotel administration for third parties, among others; Corporate, which comprises operations within group entities, and Sale of real estate, which includes disposal of non-core real estate assets. The Company operates through Inmobiliaria Hotelera Posadas SA de CV, Posadas de Mexico SA de CV, Hotel Condesa del Mar SA and Porto Ixtapa SA de CV, among others.
GRUPO POSADAS, S.A.B. DE C.V. 
