Hoteles City Express Announces the Approval for the Creation of FSTAY
Mexico City, February 15, 2018 – Hoteles City Express S.A.B. de C.V. (“Hoteles City Express” or “The Company”) (BMV: HCITY) held an ordinary shareholder´s meeting to authorize the creation of a Lodging REIT through a Primary Public Offering, and place a minority of its shares in the market.
In compliance with the bylaws of the Company, 77.2% of the outstanding shares of the Company were represented at the meeting and the result of the vote was unanimously (100% of the shares represented) in favor of the creation and placement of Fibra STAY (FSTAY).
Based on this shareholder’s meeting resolution Hoteles City Express will continue with the transaction process and aims to price and execute the vehicle in the fourth week of March 2018.
For further information about FSTAY please refer to the documents of the transaction on the following link: https://www.cityexpress.com/en/investors/financial-information.
About Hoteles City Express:
Hoteles City Express is considered the leading and fastest-growing limited-service hotel chain in Mexico in terms of number of hotels, number of rooms, geographic presence, market share and revenues. Founded in 2002, Hoteles City Express specializes in offering high-quality, comfortable and safe lodging at affordable prices via a limited-service hotel chain geared mainly towards domestic business travelers. With 136 hotels in operation located throughout Mexico, Costa Rica, Colombia and Chile, Hoteles City Express operates five distinct brands: City Express, City Express Plus, City Express Suites, City Express Junior and City Centro to serve different segments of its target market. In June 2013, Hoteles City Express completed its IPO and began trading on the Mexican Stock Exchange under the ticker symbol “HCITY”; furthermore, on October 8, 2014, Hoteles City Express completed a follow on with the aim of accelerating its growth in new hotels in coming years.
For further information, please visit our website: https://cityexpress.com/en/investors/