Corporate Presentation February 2019

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1 Corporate Presentation February

Grupo Hotelero Santa Fe Ticker: HOTEL (BMV) Financial Highlights (LTM Dec 31, 2018 ) Revenue: Ps. 2,064 million (US 105 million) EBITDA: Ps. 676 million (US 34 million) EBITDA Margin: 32.

2 Grupo Hotelero Santa Fe Ticker: HOTEL (BMV) Financial Highlights (LTM Dec 31, 2018 ) Revenue: Ps. 2,064 million (US 105 million) EBITDA: Ps. 676 million (US 34 million) EBITDA Margin: 32.7% Focus: a leading Mexican hotel company focused on acquiring, use conversion, operating owned and third-party hotels and development. Hilton Garden Inn Monterrey Aeropuerto Krystal: Proprietary Mexican brand with over 35 years of recognition which is an important competitive advantage Strong Management Team: abundant hotel experience and proven track record that have worked together for over 20 years 6, Hotels 17 Cities rooms Krystal Urban Guadalajara 2

3 Hotel Snapshot Portfolio of 27 hotels with 6,808 rooms: 14 owned and 13 under management contracts 21 operating and 6 under construction # Keys Ownership Maturity Stage Segment # Keys # Keys # Keys Brand # Keys Category 3

Cities 1 Hotel 15 Hotels 1,329 Rooms Resort and

752 Rooms Resort and Urban 400 Rooms Resort 4,340

Stars Note: Figures include owned hotels with 50%

4 Krystal Brand Arquitecture 3 Cities 3 Hotels 1 City 1 Hotel 5 Cities 5 Hotels 5 Cities 5 Hotels 1 Cities 1 Hotel 15 Hotels 1,329 Rooms Resort and Urban 150 Rooms Urban 1,709 Rooms Resort and Urban 752 Rooms Resort and Urban 400 Rooms Resort 4,340 Rooms Grand Tourism Grand Tourism 5 Stars 4 Stars 4 Stars Note: Figures include owned hotels with 50% or more ownership, third-party operated hotels and developments. 4

5 The Mexican Tourism Industry Ranking Most visited countries in the World International 15% Nationality Travelers International Travelers 13th (2012) 6th (2018) Domestic 85% 41 Million (2018) Income from international tourists Tourism as % of GDP Ranking Countries that generate more tourism jobs US$ 23 Bn +5% vs 2017 Source: Datatur and World Tourism Organization 8.7% (2018) 6th place 9 million jobs 5

6 Our Footprint 6

7 Other Hotel Brands we Manage 7

Proven Business Strategy We have posted over 30% CAGR since IPO both in terms of Revenue and EBITDA Growth: via acquisitions and conversions focusing on: 3x3 Geographic Focus Mexico City, Monterrey

8 Proven Business Strategy We have posted over 30% CAGR since IPO both in terms of Revenue and EBITDA Growth: via acquisitions and conversions focusing on: 3x3 Geographic Focus Mexico City, Monterrey and Guadalajara Cancun /Riviera Maya, Puerto Vallarta / Riviera Nayarit and Los Cabos Operating capacity: leverage our skill set to continue providing extraordinary results Optimize asset utilization: create additional revenue opportunities within our properties Krystal Brand: Continue increasing our Mexican brand s presence, considering 2/3 of our customers are domestic. Third-party Management: Maximize hotel owner returns, increase our network and expand our margins. Shareholder returns: Focused on sustainable growth. Hilton Guadalajara 8

9 Focus on profitability with an efficient cost structure Krystal Brand: value, scale and profitability. Over 5 Billion pesos invested in Krystal assets in the last 5 years by GHSF and third party investors. Resort High Domestic Penetration: 65% domestic customers Krystal Urban Reduced seasonality: due to our balanced portfolio 4 5 European Plan Hybrid Diversification: Management of different categories, destinations and brands. All Inclusive Multifunctional personnel: allows us to get efficiencies. Our EPAR (Employee per Available room) is 0.6 when in Mexico the average is approximately 1. ~40% of our workforce is flexible. 9

10 Business Model and distribution Channels HOTEL has developed different products and concepts which maintain our brands within the preference of domestic and international travelers Commercial Models Examples Diversified Distribution Channels European Plan Urban Hotels 2017 Krystal Grand Suites Hilton Garden Inn Monterrey Hilton Guadalajara Krystal Urban Ciudad Juárez Commissionable, 38% Hybrid (European Plan and All Inclusive) Krystal Ixtapa Krystal Beach Acapulco Krystal Puerto Vallarta Resorts Hotels 2017 Non- Commissionable 62% All Inclusive Commissionable, 75% Hilton Puerto Vallarta Krystal Grand Los Cabos Non- Commissionable 25% Increasing Strength in Non-commissionable Distribution Channels such as our website benefits profitability 10

11 Acquisition Turnaround At HOTEL we focus on turning around poorly managed hotels by Improving the top line through sales and marketing plans Ramping up profitability through cost and expense synergies & operational efficiencies Improving quality standards Top & bottom line teams analyzing and implementing our strategy Turnaround examples: 1. Reflect Krystal Grand Punta Cancun EBITDA Growth 2. Krystal Satelite Maria Barbara (Mexico City) EBITDA Growth 3. Ex-Krystal Grand Reforma (Mexico City) EBITDA Growth (Hyatt) (Reflect Krystal Grand)

ocupancies to be more profitable, aiming to be above 60% Stabilizing EBITDA above 30% Reaching Breakeven

12 Construction, Development and Use Conversion At HOTEL when we open a new property we focus on: Reaching the breakeven point quickly so the property starts generating returns in as less time as posible Increasing ocupancies to be more profitable, aiming to be above 60% Stabilizing EBITDA above 30% Reaching Breakeven Ocupancy >60% EBITDA Margin >30% Krystal Urban Guadalajara 3 to 6 months 12 to 18 months 12 to 24 months Hilton Puerto Vallarta 12

13 Strategic Alliance with AM Resorts In 2018, we announced the signing of a strategic alliance with AMResorts A co-branding was implemented between Reflect Resorts & Spas brand and Krystal Grand brand for the hotels in Punta Cancun, Los Cabos and Nuevo Vallarta which jointly account for 1,329 rooms. AMResorts is responsible for the commercialization, sales and marketing of the properties, enabling the HOTEL to attain a higher growth on international sales, and therefore, higher foreign currency denominated sales percentage We expect to significantly boost sales of our three hotels, in addition to the opportunity to expand this partnership to more properties. HOTEL maintains the ownership and control of operations of the Hotels. 13

Gourmet experience area Parking Investment per room ~US.

14 Hyatt Regency Insurgentes Mexico City 50% Ownership Building includes: 250 Grand Tourism suites 86 condo-hotel rooms Gourmet experience area Parking Investment per room ~US. 160k Expected to open 2Q20 Hyatt Regency Insurgentes Mexico City 14

Hyatt Centric Leon Campestre 50% Ownership 140 5-star rooms Located in Puerta Bajio, a real estate development with mall, offices,

15 Hyatt Centric Leon Campestre 50% Ownership star rooms Located in Puerta Bajio, a real estate development with mall, offices, condos and hotel. Currently we are evaluating Brand alternatives for the property. Investment per Room was ~140 thousand dollars 15

267k Construction to begin 2Q19 Expected to open in 2021 HOTEL will

16 Breathless Tulum Resort & Spa 25% Ownership HOTEL to invest US. 12 million Investment per room ~US. 267k Construction to begin 2Q19 Expected to open in 2021 HOTEL will oversee operation of the property AMResorts will be responsible for the commercialization, sales and marketing 16

17 Krystal Grand Suites (Mexico City) 50% ownership Gran Turismo category suites Investment per room was ~170 thousand dollars considering the product is oversized and includes kitchenet. 17

Krystal Grand Punta Cancún Expansión Altitude

per room was ~115 thousand dollars (does not

18 Krystal Grand Punta Cancún Expansión Altitude Tower 100 Gran Turismo category Suites 34% increase in room inventory The hotel has a 50% higher ADR than our portfolio Investment per room was ~115 thousand dollars (does not include pre-exiting property and common area costs) 18

19 The Hacienda at Hilton Puerto Vallarta 192 new suites (Hilton Hacienda) 100% ownership 74% increase in room inventory Investment per room was ~140 thousand dollars 19

Third-Party Hotels under Construction Zacatecas Centro Historico Curio Collection

Third-party management contract 144 rooms, opens in 1Q19 DoubleTree by Hilton Toluca

(Monterrey) Third-party management contract 168 rooms, opens 2H19 DoubleTree by Hilton

20 Third-Party Hotels under Construction Zacatecas Centro Historico Curio Collection Third-party management contract 32 Deluxe Suites, opens 2H19 Hyatt Place Aguascalientes Third-party management contract 144 rooms, opens in 1Q19 DoubleTree by Hilton Toluca Third-party management contract 142 rooms, opens in 1Q19 AC by Marriot Distrito Armida (Monterrey) Third-party management contract 168 rooms, opens 2H19 DoubleTree by Hilton Toluca Zacatecas Centro Historico Curio Collection by Hilton Hyatt Place Aguascalientes AC by Marriot Distrito Armida 20

21 Solid Financial Position Our leverage is 4.1x Net Debt to EBITDA Our Debt is 85% denominated in dollars which is matched by our operating cashflow which is 85% dollarized. YTD March 2018 MXN USD Debt 15% 85% Avg. Cost of Debt 11.7% 5.7% Revenues 64% 36% Operating Cashflow 15% 85% 21

22 Quarterly Results & Guidance 4Q18 Results: Revenue grew 23% to Ps. 543 million EBITDA grew 18% to Ps. 173 million EBITDA margin was 31.9% Occupancy was 61.6% Krystal Satelite Maria Barbara 2019 Guidance: 13% Revenue growth, reaching Ps. 2,330 million 15% EBITDA growth, reaching Ps. 780 million Average exchange rate : 19.0 Krystal Resort Ixtapa 22

23 Non-Productive Assets 20% of our Fixed Furniture and Equipment have not generated EBITDA in the last twelve months which will drive important Revenue and EBITDA growth this year and 2020 Assets that have not generated EBITDA for the last twelve months: 4,324 rooms 6,808 rooms Hotel # keys Expansion Hilton Vallarta (3Q18) 192 Hyatt Centric Leon Campestre (3Q18) 140 Hyatt Regency Insurgentes (2Q19) 250 Total

Why to invest in HOTEL We are disciplined in valuation of acquisitions to maximize our shareholder returns We have more flexibility that FIBRAs, which translates into closing favorable negotiations

24 Why to invest in HOTEL We are disciplined in valuation of acquisitions to maximize our shareholder returns We have more flexibility that FIBRAs, which translates into closing favorable negotiations including acquisitions, associations and third party management contracts Diversifies portfolio in terms of destinations and categories. Higher growth that peers considering that we had 30% CAGR in terms of Revenue and Room number growth. Our Krystal Brand as a competitive advantage and 2020 growth will be positively impacted by the incorporation of rooms which are not fully matured, in construction or expansion (50% of our portfolio) We have met and in some cases exceeded our IPO and follow-on promises to investors 24

25 Appendix Financial Statements and exhibits Hampton Inn & Suites Paraiso Tabasco Krystal Monterrey Krystal Urban Ciudad Juarez Krystal Pachuca 25

26 P&L Figures in thousand Mexican Pesos Fourth Quarter 12 months ended December 31 Income Statement Var. % Var Var. % Var. Room Revenue 277, ,630 24, ,105, , , Food and Beverage Revenue 199, ,875 53, , , , Other Revenue from Hotels 49,018 27,743 21, , ,407 33, Third-party Hotels' Management Fees 17,645 15,059 2, ,537 79,962 (9,426) (11.8) Total Revenue 542, , , ,064,941 1,581, , Cost and Operating Expenses 237, ,945 50, , , , Sales and Administrative 124, ,250 24, , ,742 83, Other Expenses 7,200 7,429 (229) (3.1) 29,643 24,010 5, Depreciation 54,743 50,889 3, , ,173 52, Total Costs and Expenses 424, ,513 78, ,585,514 1,197, , Total Non Recurring Expenses 7,112 17,293 (10,182) (58.9) 28,872 48,962 (20,090) (41.0) EBITDA 173, ,683 26, , , , EBITDA Margin(%) 31.9% 33.2% (1.3 pt) (1.3 pt) 32.7% 33.4% (0.7 pt) (0.7 pt) Operating Income 111,484 78,501 32, , , , Operating Income Margin (%) 20.5% 17.8% 2.8 pt 2.8 pt 21.8% 21.2% 0.6 pt 0.6 pt Net Financing Result (121,509) (171,044) 49,534 (29.0) (137,535) (60,520) (77,015) NA Total income taxes (28,897) 25,311 (54,208) NA 46,655 90,315 (43,661) (48.3) Net Income 17,076 (116,838) 133,914 NA 267, ,382 79, Net Income Margin (%) 3.1% (26.5%) 29.6 pt 29.6 pt 12.9% 11.8% 1.1 pt 1.1 pt Income attributable to: Controlling interest 43,719 (45,910) 89,629 NA 265, ,991 49, Non-controlling interest (26,643) (70,928) 44,285 (62.4) 1,387 (28,609) 29,996 NA 26

27 Balance Sheet Figures in thousands of Mexican Pesos Balance Sheet Summary Dic-18 Dic-17 Var. Var % Cash and cash equivalents 102, ,015 (185,211) (64.3%) Accounts receivables and other current assets 234, ,687 48, % Creditable taxes 407, ,154 63, % Escrow deposit for hotel acquisition - 24,176 (24,176) (100.0%) Total current assets 744, ,032 (97,856) (11.6%) Restricted cash 134, ,655 31, % Property, furniture and equipment 8,172,734 6,510,002 1,662, % Non-productive fixed assets (under development) 509,376 1,080,229 (570,853) (52.8%) Other fixed assets 614, , , % Total non-current assets 9,431,229 8,184,269 1,246, % Total Assets 10,175,405 9,026,301 1,149, % Current installments of long-term debt 254, ,361 86, % Other current liabilities 462, , , % Total current liabilities 717, , , % Long-term debt 2,740,161 2,342, , % Other non-current liabilities 873, ,998 55, % Total non-current liabilities 3,613,828 3,160, , % Total Equity 5,844,085 5,339, , % Total Liabilities and Equity 10,175,405 9,026,301 1,149, % 27

28 Cash Flow Figures in thousands of Mexican Pesos Fourth Quarter 12 months ended December 31 Cash Flow Statement Var. % Var Var. % Var. Cashflow from operating activities Net income 17,076 (116,838) 133,914 NA 267, ,382 79, Depreciation and amortization 54,742 50,889 3, , ,173 52, Income taxes (28,897) 25,311 (54,208) NA 46,655 90,315 (43,660) (48.3) Unrealized gain (loss) in foreign currency exchange 70, ,290 (38,836) (35.5) (33,418) (47,655) 14,237 (29.9) Net interest expense 46,842 35,192 11, ,916 77,584 60, Other financial costs 1, NA 7,243 3,376 3,867 NA Minority interest 1,796 (1,015) 2,811 NA (972) (3,152) 2,180 (69.2) Cashflow before working capital variations 163, ,564 60, , , , Working Capital 3,938 46,089 (42,151) (91.5) 47,440 66,468 (19,028) (28.6) Net operating cashflow 167, ,653 17, , , , Non-recurring items (302,165) (63,688) (238,477) NA (295,765) (51,251) (244,514) NA Cashflow net from non-recurring items (134,632) 85,965 (220,597) NA 372, ,240 (94,436) (20.2) Investment activities (301,165) (420,252) 119,087 (28.3) (1,168,475) (1,789,128) 620,653 (34.7) Financing activities 434,896 24, ,364 NA 610,225 (125,404) 735,629 NA Net (decrease) increase in cash and cash equivalents (901) (309,755) 308,854 (99.7) (185,446) (1,447,292) 1,261,846 (87.2) Cash and cash equivalents at the beginning of the period 103, ,770 (494,065) (82.7) 288,015 1,731,587 (1,443,572) (83.4) Cash and cash equivalents at the end of the period 102, ,015 (185,211) (64.3) 102, ,295 (181,726) (63.9) Cash in business acquisition 0-0 NA 235 3,720 (3,485) NA Total Cash at the end of the period 102, ,015 (185,211) (64.3) 102, ,015 (185,211) (64.3) 28

29 Key Financial Highlights Figures in thousands of Mexican Pesos Denominated in (currency): Debt* Pesos Dollars Total Short Term 35, , ,801 Long Term 422,749 2,317,412 2,740,161 Total 458,718 2,536,245 2,994,963 % Total 15.3% 84.7% 100.0% Average rate of financial liabilities 11.67% 5.70% 6.61% Cash and equivalents 54,744 48, ,824 Restricted cash 16, , ,735 Cash and equivalents** 71, , ,559 Net Debt 387,153 2,370,251 2,757,404 Net Debt / LTM EBITDA (as of December 31, 2018) 4.1x *Includes accrued interests and effect of financial instruments related to financial debt. **Includes restricted cash related to bank debt. 29

30 Currency Hedging Figures in thousands of Mexican Pesos Fourth Quarter 2018 YTD December 31, 2018 Currency Hedging Analysis Denominated in Pesos Denominated in USD Total in Pesos Denominated in Pesos Denominated in USD Total in Pesos Total Revenue 363, , ,741 1,330, ,152 2,064,941 % of Total Revenue 67.0% 33.0% 100.0% 64.4% 35.6% 100.0% ( - ) Total Costs and Expenses 377,762 46, ,146 1,400, ,100 1,585,514 ( - ) Non-recurring Expenses 7,112-7,112 28,872-28,872 Operating Income (20,967) 132, ,484 (98,497) 549, ,555 ( + ) Depreciation 54,743-54, , ,367 Operating Cashflow 33, , ,226 97, , ,922 % of Operating Cashflow 20.3% 79.7% 100.0% 15.1% 84.9% 100.0% Interest 4,280 45,377 49,657 17, , ,801 Principal 8,976 64,422 73,398 36, , ,393 Total Debt Service 13, , ,054 54, , ,194 Interest Coverage ratio 1 7.9x 2.9x 3.3x 5.5x 4.0x 4.1x Debt Service Coverage Ratio 2 2.5x 1.2x 1.4x 1.8x 2.0x 1.9x 1) Operating Cashflow / Interest; 2) Operating Cashflow / Total Debt Service 30

31 Key Operating Statistics Occupancy Average Daily Rate (ADR) Revenue per Available Room (RevPAR) Total Rooms Note: Figures include owned hotels, third-party operated hotels and under construction, excluding KPI s. 31

32 Key Financial Metrics Solid revenue growth and strong EBITDA generation. Revenue Breakdown EBITDA % of Total 32

33 HOTEL Shareholder Structure Public Float 20.69%) 19.32%) 13.87%) 46.12%) Strategic Local Partner One of the largest Mexican private equity firms Private equity real estate investment firm based in Chicago Outstanding shares - 491,084,530 33

34 HOTEL Timeline Grupo Chartwell joins Nexxus Capital and Walton St. Capital for the creation of Grupo Hotelero Santa Fe The Company becomes public with an IPO in the Mexican Stock Exchange for Ps. 750 million under the ticker HOTEL. HOTEL executes a follow-on for Ps. 1,832 million, reaching a float of 46% and improving ADTV by 13x HOTEL acquires its two largest hotels in Los Cabos and Nuevo Vallarta reaching over 6,000 rooms in operation

Properties incorporated since IPO Krystal

Krystal Grand Nuevo Vallarta Opened 4Q17

Opened 2Q15 215 Rooms Owned Hilton Garden

Rooms Owned @ 50% Krystal Monterrey Opened

Distrito Armida Opens 2H19 168 Rooms Third

Suites Mexico City Opened 3Q17 200 Rooms

50% Breathless Tulum Opens 2H21 300 Rooms

35 Properties incorporated since IPO Krystal Urban Guadalajara Opened 2Q Rooms Owned Reflect Krystal Grand Los Cabos Opened 2Q Rooms 50% Reflect Krystal Grand Nuevo Vallarta Opened 4Q Rooms 50% Hyatt Place Aguascalientes Opens 1Q Rooms Third-party Krystal Satelite Maria Bárbara Opened 2Q Rooms Owned Hilton Garden Inn Monterrey Aepto Opened 3Q Rooms Hyatt Regency Insurgentes Mexico City Opens 2H Rooms 50% Krystal Monterrey Opened 1Q Rooms Third-party AC by Marriot Distrito Armida Opens 2H Rooms Third Party 4,017 Rooms incorporated % 3+3 Strategy: 82% % Krystal Brand: 56% % Urban Destinations: 58% % Resort Destinations: 42% % Use Conversion: 7% Krystal Mexico City Airport Opened 4Q15 96 Rooms Third-Party Krystal Urban Cancun Opened 4Q Rooms Third-party Krystal Grand Suites Mexico City Opened 3Q Rooms 50% Hampton Inn ParaísoTabasco Opened 4Q Rooms Third-party DoubleTree by Hilton Toluca Opens 1Q Rooms Third-party Hyatt Centric Leon Campestre Opened 3Q Rooms 50% Breathless Tulum Opens 2H Rooms 25% Ibis Irapuato Opened 2Q Rooms Third-party Curio Collection Zacatecas Opens 2H19 32 Rooms Third-party 35

36 Krystal Urban Guadalajara (use conversion) 36

Contact Information Maximilian Zimmermann Investor

com +52 (55) 5261-0800 Enrique Martínez Guerrero CFO

37 Contact Information Maximilian Zimmermann Investor Relations Director +52 (55) Enrique Martínez Guerrero CFO Visit our website: Krystal Beach Acapulco Hilton Garden Inn Monterrey Krystal Urban Aeropuerto Ciudad de Mexico Krystal Resort Cancun 37

Corporate Presentation April 2018

Corporate Presentation April 2018 1 Grupo Hotelero Santa Fe Ticker: HOTEL (BMV) Financial Highlights (LTM March 31, 2018 ) Revenue: Ps. 1,769 million (US 96 million) EBITDA: Ps. 603 million (US 33 million)