Corporate Presentation April 2018

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1 Corporate Presentation April

5% Focus: a leading Mexican hotel company focused on acquiring, use conversion, operating owned and third-party hotels and development.

2 Grupo Hotelero Santa Fe Ticker: HOTEL (BMV) Financial Highlights (LTM June 30, 2018 ) Revenue: Ps. 1,873 million (US 94 million) EBITDA: Ps. 627 million (US 32 million) EBITDA Margin: 33.5% 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 16 Cities rooms Krystal Urban Guadalajara 2

3 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

Hotel Snapshot Portfolio of 25 hotels with

4 Hotel Snapshot Portfolio of 25 hotels with 6,350 rooms: 13 owned and 12 under management contracts 21 operating and 4 under construction # Keys Ownership Maturity Stage Segment # Keys # Keys * Includes hotels with 50% ownership # Keys Brand # Keys Category 4

5 The Mexican Tourism Industry Ranking Most visited countries in the World International 15% Nationality Travelers International Travelers 13th (2012) 8th (2017) Domestic 85% 38 Million (2017) Income from international tourists Tourism as % of GDP Ranking Countries that generate more tourism jobs US$ 21 Bn +5% vs 2016 Source: Datatur and World Tourism Organization 8.5% (2017) 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 number of rooms Growth: via acquisitionsand conversions focusing on: 3x3 Geographic Focus Mexico City,

8 Proven Business Strategy We have posted over 30% CAGR since IPO both in terms of Revenue and number of rooms Growth: via acquisitionsand 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 48 months 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, 42% Hybrid (European Plan and All Inclusive) Krystal Grand Punta Cancún Krystal Ixtapa Krystal Puerto Vallarta Krystal Beach Acapulco Resorts Hotels 2017 Noncommissionable, 58% All Inclusive Commissionable, 79% Hilton Puerto Vallarta Krystal Grand Los Cabos Noncommissionable, 21% 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. Krystal Grand Punta Cancun 2. Krystal Satelite Maria 3. Ex-Krystal Grand Barbara (Mexico City) Reforma (Mexico City) EBITDA Growth EBITDA Growth EBITDA Growth (Hyatt) (Krystal Grand)

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

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 June, 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. Began on July 1st, 2018 We expect to significantly boost sales of our three hotels, in addition to the opportunity to expand this partnership to more properties. 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 HOTEL maintains the ownership and control of operations of the Hotels. 13

480 rooms Total value of the transaction was US 120 million Investment per room was ~128 thousand dollars US 60 million in

14 Krystal Grand Los Cabos & Nuevo Vallarta Acquisition HOTEL s largest acquisition since IPO Strategic locations where we were not present Two Grand Tourism hotels with 934 rooms Krystal Grand Los Cabos with 454 rooms Krystal Grand Nuevo Vallarta with 480 rooms Total value of the transaction was US 120 million Investment per room was ~128 thousand dollars US 60 million in equity and the rest in debt. We have 50% equity ownership All-Inclusive Krystal Grand Los Cabos Krystal Grand Nuevo Vallarta 14

15 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. 15

Krystal Grand Punta Cancún Expansión Altitude

per room was ~115 thousand dollars (does not

16 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) 16

17 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 17

Hotels under Construction Krystal Grand Insurgentes (Mexico City) 50% Ownership, 250 Grand Tourism rooms Building includes ~2,400 m 2 of gastrocenter and 86 condo-hotel rooms Investment of Ps.

18 Hotels under Construction Krystal Grand Insurgentes (Mexico City) 50% Ownership, 250 Grand Tourism rooms Building includes ~2,400 m 2 of gastrocenter and 86 condo-hotel rooms Investment of Ps. 1,115 million Investment per room ~US. 160 thousand Opens in 2H19 Zacatecas Centro Historico Curio Collection Third-party management contract 32 Deluxe Suites Opens 2H18 AC by Marriot Distrito Armida (Monterrey) Third-party management contract 168 rooms Opens 2Q19 Hyatt Place Aguascalientes Third-party management contract 144 rooms Opens in 1Q19 Krystal Grand Insurgentes Hyatt Place Aguascalientes Zacatecas Centro Historico Curio Collection by Hilton AC by Marriot Distrito Armida 18

19 Solid Financial Position Our leverage is 3.4x Net Debt to EBITDA Our Debt is 86% denominated in dollars which is matched by our operating cashflow which is 91% dollarized. YTD March 2018 MXN USD Debt 14% 86% Avg. Cost of Debt 10.4% 4.4% Revenues 61% 39% Operating Cashflow 9% 91% 19

20 Quarterly Results & Guidance 1Q18 Results: Revenue grew 28% to Ps. 472 million EBITDA grew 21% to Ps. 133 million EBITDA margin was 28.2% Occupancy was 61.0% Krystal Satelite Maria Barbara 2018 Guidance: 42% Revenue growth, reaching Ps. 2,250 million 52% EBITDA growth, reaching Ps. 803 million Average exchange rate : 19.0 Krystal Resort Ixtapa 20

21 Non-Productive Assets 50% 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 2019 Assets that have not generated EBITDA for the last twelve months: 4,324 rooms 6,350 rooms Hotel # keys KG Los Cabos (2Q17) 454 KG Suites (3Q17) 150 Expansion KG Cancún (3Q17) 100 KG Nuevo Vallarta (4Q17) 480 Expansion Hilton Vallarta (2Q18) 192 KG Insurgentes (2H19) 250 Total 1,626 21

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

22 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 2019 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 22

23 Appendix Financial Statements and exhibits Hampton Inn & Suites Paraiso Tabasco Krystal Monterrey Krystal Urban Ciudad Juarez Krystal Pachuca 23

24 P&L Figures in thousand Mexican Pesos Second Quarter 6 months ended June 30 Income Statement Var. % Var Var. % Var. Room Revenue 256, ,046 47, , , , Food and Beverage Revenue 166, ,640 59, , , , Other Revenue from Hotels 31,792 28,719 3, ,592 66,456 6, Third-party Hotels' Management Fees 16,962 22,931 (5,969) (26.0) 35,523 48,592 (13,069) (26.9) Total Revenue 472, , , ,047, , , Cost and Operating Expenses 213, ,682 56, , , , Sales and Administrative 118,010 96,203 21, , ,664 44, Other Expenses 7,774 5,706 2, ,855 10,444 4, Depreciation 50,596 32,902 17, ,829 61,400 33, Total Costs and Expenses 389, ,493 98, , , , Total Non Recurring Expenses 5,066 11,705 (6,639) (56.7) 15,108 23,517 (8,409) (35.8) EBITDA 133, ,745 23, , ,391 98, EBITDA Margin(%) 28.2% 29.8% (1.6 pt) (1.6 pt) 34.3% 34.5% (0.2 pt) (0.2 pt) Operating Income 77,434 65,139 12, , ,475 73, Operating Income Margin (%) 16.4% 17.7% (1.3 pt) (1.3 pt) 23.8% 23.2% 0.5 pt 0.5 pt Net Financing Result (179,392) 38,828 (218,220) NA (85,492) 137,048 (222,540) NA Total income taxes (23,244) 30,619 (53,863) NA 37,974 54,884 (16,910) (30.8) Net Income (77,818) 74,147 (151,966) NA 127, ,073 (131,942) (50.9) Net Income Margin (%) (16.5%) 20.1% (36.6 pt) (36.6 pt) 12.1% 34.3% (22.2 pt) (22.2 pt) Income attributable to: Controlling interest (26,765) 63,170 (89,936) NA 124, ,693 (84,955) (40.5) Non-controlling interest (51,053) 10,977 (62,030) NA 2,393 49,380 (46,987) (95.2) 24

25 Balance Sheet 25

26 Cash Flow 26

27 Key Financial Highlights Figures in thousand Mexican Pesos Denominated in (currency): Debt* Pesos Dollars Total Short Term 28, , ,910 Long Term 324,716 1,924,117 2,248,833 Total 353,279 2,098,464 2,451,743 % Total 14.4% 85.6% 100.0% Average rate of financial liabilities 10.42% 4.36% 5.23% Cash and equivalents 101, , ,370 Restricted cash 9,964 94, ,659 Cash and equivalents** 111, , ,028 Net Debt 242,099 1,883,616 2,125,715 Net Debt / LTM EBITDA (as of June 30, 2018) 3.4x *Includes accrued interests and effect of financial instruments related to financial debt. **Includes restricted cash related to bank debt. 27

28 Currency Hedging Figures in thousands of Mexican Pesos Second Quarter 2018 YTD June 30, 2018 Denominated Denominated Total in Denominated Denominated in Pesos in USD Pesos in Pesos in USD Total in Pesos Total Revenue 309, , , , ,465 1,047,145 % of Total Revenue 65.4% 34.6% 100.0% 61.1% 38.9% 100.0% ( - ) Total Costs and Expenses 335,384 54, , ,775 95, ,244 ( - ) Non-recurring Expenses 5,066-5,066 15,108-15,108 Operating Income (31,421) 108,855 77,434 (63,203) 311, ,793 ( + ) Depreciation 50,596-50,596 94,829-94,829 Operating Cashflow 19, , ,030 31, , ,622 % of Operating Cashflow 15.0% 85.0% 100.0% 9.2% 90.8% 100.0% Interest 7,516 28,290 35,806 15,140 54,470 69,610 Principal 12,458 24,729 37,187 19,187 50,847 70,034 Total Debt Service 19,974 53,019 72,993 34, , ,644 Interest Coverage ratio 1 2.6x 3.8x 3.6x 2.1x 5.7x 4.9x Debt Service Coverage Ratio 2 1.0x 2.1x 1.8x 0.9x 3.0x 2.5x 1) Operating Cashflow / Interest; 2) Operating Cashflow / Total Debt Service 28

29 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. 29

30 Key Financial Metrics Solid revenue growth and strong EBITDA generation. Revenue Breakdown EBITDA % of Total 30

31 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 31

32 Properties incorporated since IPO Krystal Urban Guadalajara Opened 2Q Rooms Owned Krystal Grand Los Cabos Opened 2Q Rooms 50% Krystal Grand Nuevo Vallarta Opened 4Q Rooms 50% Hilton Garden Inn Monterrey Aepto Opened 3Q Rooms Krystal Monterrey Opened 1Q Rooms Third-party AC by Marriot Distrito Armida Opens 2Q Rooms Third Party Krystal Urban Cancun Opened 4Q Rooms Third-party Paraíso, Tabasco Opened 4Q Rooms Third-party 3,147 Rooms incorporated % 3+3 Strategy: 84% % Krystal Brand: 73% % Urban Destinations: 62% % Resort Destinations: 38% % Use Conversion: 8% Ibis Irapuato Opened 2Q Rooms Third-party Krystal Pachuca Opened 1Q Rooms Third-party Krystal Satelite Maria Bárbara Opened 2Q Rooms Owned Krystal Grand Insurgentes Mexico City Opens 2H Rooms 50% Kystal Mexico City Airport Opened 4Q15 96 Rooms Third-Party Krystal Grand Suites Mexico City Opened 3Q Rooms 50% Hyatt Place Aguascalientes Opens 1Q Rooms Third-party Curio Collection Zacatecas Opens 2H18 32 Rooms Third-party 32

Rooms Resort and Urban 4 Hotels 602 Rooms Urban 1 Hotel 400

Stars 4 Stars Note: Figures include owned hotels with 50%

33 Krystal Brand Arquitecture 4 Cities 6 Cities 4 Cities 1 City 5 Hotels 1,729 Rooms Resort and Urban 6 Hotels 1,779 Rooms Resort and Urban 4 Hotels 602 Rooms Urban 1 Hotel 400 Rooms Resort 16 Hotels 4,564 Rooms Grand Tourism 5 Stars 4 Stars 4 Stars Note: Figures include owned hotels with 50% or more ownership, third-party operated hotels and developments. 33

34 Krystal Urban Guadalajara (use conversion) 34

Contact Information Maximilian Zimmermann Investor

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

35 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 35

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)