| • |
On May 25, 2026, the Company restructured its indebtedness with Sofoplus S.A.P.I. de C.V., SOFOM E.R. ("Sofoplus"). Sofoplus granted the Company a new credit line of U.S.$7,000,000, which the Company used to: (i)
repay in full a prior credit line of U.S.$3,600,000, together with accrued interest of U.S.$192,000; and (ii) make a partial payment of U.S.$2,404,700 of principal and U.S.$314,300 of interest under a second, previously existing credit line
of U.S.$6,000,000 between the Group and Sofoplus. The new credit line bears interest at an annual rate of 12% and matures in 24 months, with interest and principal payable at maturity.
|
| • |
On June 3, 2026, Exitus Capital, S.A.P.I. de C.V., SOFOM E.N.R. ("Exitus") and the Group signed a binding memorandum of understanding to begin discussions on restructuring the U.S.$27,674,966 owed under the Exitus
loan, including a potential payment in kind consisting of Private Unit 4 of the Grand Island Cancun complex. There can be no assurance that a definitive restructuring agreement will be reached on these or any other terms.
|
| • |
On June 16, 2026, the Company reached a settlement agreement with NAFIN to reduce the outstanding balance to U.S.$10,358,091, to be satisfied through a payment in kind.
|
| • |
On July 7, 2026, the Company did not make the scheduled quarterly amortization payment of U.S.$1,869,835 under the Bancomext loan associated with the Insurgentes 421 facility. The Group has initiated discussions
with Bancomext to renegotiate the principal terms of this loan, which had an outstanding balance of approximately U.S.$98.7 million as of that date. There can be no assurance that these discussions will result in a renegotiated agreement on
any particular terms, or at all.
|
| • |
On August 14, 2026, the Company issued a press release announcing the completion of a consensual restructuring of its U.S.$300,000,000 aggregate principal amount of 11.000% Senior Secured Notes due 2031.
|
| • |
On August 28, 2026, the Company reached a settlement agreement with Administradora de Soluciones de Capital, S.A. de C.V. SOFOM E.N.R. and Arrendadora Finamo, S.A. de C.V. (together, "Finamo"). Under the
settlement, the Company agreed to transfer, as payment in kind, the properties known as "La Punta" Bajamar and Private Unit 3 of the Grand Island Cancun complex, with an agreed value of approximately MXN$1,366,988,323 (approximately U.S.$80
million), in satisfaction of the related indebtedness.
|
|
KPI
|
ANDAZ MEXICO CITY
|
MONDRIAN MEXICO CITY
|
MONDRIAN CANCUN
|
|
Rooms Sold from January 1st to August 31st, 2026
|
42,796
|
24,767
|
60,967
|
|
Occupancy
|
82.68%
|
55.69%
|
62.72%
|
|
Average Daily Rate (ADR)
|
$261
|
$286
|
$269
|
|
Revenue Per Available Room (RevPar)
|
$216
|
$159
|
$169
|
|
Total income
|
$15,478,248
|
$8,162,751
|
$19,641,864
|
|
Gross Operating Profit (GOP)
|
$5,626,131
|
$2,678,340
|
$1,687,337
|
|
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
|
$3,654,481
|
$1,658,466
|
$(860,302)
|
|
I.
|
Reserves - considering 100% of square meters
|
Units
|
Sq m
|
USD
|
||||||||||||
|
Opening inventory
|
316
|
37,519.93
|
||||||||||||||
|
Reserves as of August 31, 2026
|
21
|
2,275.90
|
$
|
13,593,012
|
Note 1
|
|||||||||||
|
Closing inventory as of 08.31.2026
|
295
|
35,244.03
|
||||||||||||||
|
II.
|
Down Payments
|
Unidades
|
m2
|
Importe
|
||||||||||||
|
Total Down Payments
|
21
|
2,275.90
|
$
|
4,908,374
|
Note 2
|
|||||||||||