Grupe, S.A.B. De C.V. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
February 26, 2021 at 05:54 pm EST
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Grupe, S.A.B. De C.V. Announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced sales was MXN 373.658 million compared to MXN 613.607 million a year ago. Operating loss was MXN 186.155 million compared to MXN 3.691 million a year ago. Net loss was MXN 253.617 million compared to MXN 65.704 million a year ago. For the full year, sales was MXN 1,387.542 million compared to MXN 2,694.171 million a year ago. Operating loss was MXN 250.400 million compared to operating Income of MXN 476.513 million a year ago. Net loss was MXN 181.316 million compared to net income of MXN 274.493 million a year ago.
Grupe SAB de CV is a Mexico-based company engaged in the hospitality industry. The Company's activities are divided into four business segments: Hotel Services, Timeshare, Real Estate and Clubs. The Hotel Services division owns and manages El Cid Resorts, located in Mazatlan, Cancun and Cozumel, Mexico. The Timeshare area is responsible for the operation and leasing of timeshare properties. The Real Estate segment focuses on the development and management of hotel properties. The Clubs area operates resorts restaurants and entertainment infrastructure, including marinas, spa services, golf courses, tennis courts, swimming pools, events hosting, island tours, horseback riding, biking and scuba diving, among others. The Company owns a range of subsidiaries, such as Marina del Sabalo SA de CV, Operadora Turistica La Mazatleca SA de CV and Promotours del Noroeste SA de CV.
GRUPE, S.A.B. DE C.V. 
