Corporate Presentation February 2018 NOMBRE DE LA PRESENTACIÓN

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1 Corporate Presentation February 2018 NOMBRE DE LA PRESENTACIÓN 1 1

Grupo Hotelero Santa Fe Ticker: HOTEL (BMV) 2017 Financial Highlights Revenue: Ps. 1,582 million (US 80 million) EBITDA: Ps. 528 million (US 27 million) EBITDA Margin: 33.

2 Grupo Hotelero Santa Fe Ticker: HOTEL (BMV) 2017 Financial Highlights Revenue: Ps. 1,582 million (US 80 million) EBITDA: Ps. 528 million (US 27 million) EBITDA Margin: 33.4% 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 15 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 6,281 rooms: 13 owned and 12 under management contracts 21 operating and 4 under construction Ownership Maturity Stage Segment # Keys # 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

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

13 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 13

14 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. 14

Hotels under Construction Krystal Grand Insurgentes (Mexico City) 50% Ownership, 250 Grand Tourism rooms Building

Suites Opens 2H18 Krystal Grand Insurgentes Zacatecas Centro Historico Curio Collection by Hilton AC by Marriot

15 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 Krystal Grand Insurgentes Zacatecas Centro Historico Curio Collection by Hilton 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 Hyatt Place Aguascalientes AC by Marriot Distrito Armida 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

Hotel Expansions Hilton Puerto Vallarta Expansion 192 new suites (Hilton Hacienda) 74% increase in room inventory Investment per room was ~140 thousand dollars Opens

17 Hotel Expansions Hilton Puerto Vallarta Expansion 192 new suites (Hilton Hacienda) 74% increase in room inventory Investment per room was ~140 thousand dollars Opens 1Q18 Krystal Puerto Vallarta Expansion Third party management contract 270 new 5-star rooms 105% increase in room inventory Opens 1Q18 Expansión Hilton Puerto Vallarta 17

18 Solid Financial Position Our leverage is 4.0x Net Debt to EBITDA due to the payment of the Los Cabos and Nuevo Vallarta Acquisition which have not yet generated 12 months of EBITDA Our Debt is 85% denominated in dollars which is matched by our operating cashflow which is 79% dollarized Financials MXN USD Debt 15% 85% Avg. Cost of Debt 10.4% 4.4% Revenues 66% 34% Operating Cashflow 21% 79% 18

19 Quarterly Results & Guidance 4Q17 Results: Revenue grew 39% to Ps. 441 million EBITDA grew 37% to Ps. 146 million EBITDA margin was 33.2% Occupancy was 62.9% 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 19

20 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 6,281 rooms Hotel # keys KG Nuevo Vallarta (1Q17) 215 KG Los Cabos (2Q17) 454 KG Suites (3Q17) 150 Expansion KG Cancún (3Q17) 100 Expansion KG Nuevo Vallarta (4Q17) 264 Expansion Hilton Vallarta (1Q18) 192 KG Insurgentes (2H19) 250 Total 1,625 20

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

21 Why to invest in HOTEL We are disciplined in valuation of aquisitions to maximize our shareholder returns We have more flexibility that Fibras, which translates into closing favorable negociations including acquisitions, asociations 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 grewth Will be positively impacted by the incorporation of romos which are not fully matured, in construction or expansión (50% of our portfolio) We have met and in some cases exceded our IPO and follow-on promises to investors 21

22 Appendix Financial Statements and exhibits Hampton Inn & Suites Paraiso Tabasco Krystal Monterrey Krystal Urban Ciudad Juarez Krystal Pachuca 22

23 P&L Figures in thousands of Mexican Pesos Fourth Quarter 12 months ended December 31 Income Statement $ Var. % Var $ Var. % Var. Room Revenue 252, ,469 69, , , , Food and Beverage Revenue 145,875 86,506 59, , , , Other Revenue from Hotels 27,743 26, , ,590 20, Third-party Hotels' Management Fees 15,059 21,772 (6,713) (30.8) 79,962 78,209 1, Total Revenue 441, , , ,581,496 1,221, , Cost and Operating Expenses 186, ,714 66, , , , Sales and Administrative 100,250 86,346 13, , ,489 64, Other Expenses 7,429 4,590 2, ,010 17,391 6, Depreciation 50,889 36,883 14, , ,058 32, Total Costs and Expenses 345, ,532 96, ,197, , , Total Non Recurring Expenses 17,293 3,477 13,816 NA 48,962 24,148 24,815 NA EBITDA 146, ,978 39, , , , EBITDA Margin(%) 33.2% 33.6% (0.4 pt) (0.4 pt) 33.4% 34.9% (1.5 pt) (1.5 pt) Operating Income 78,501 66,618 11, , ,913 45, Operating Income Margin (%) 17.8% 20.9% (3.1 pt) (3.1 pt) 21.2% 23.7% (2.5 pt) (2.5 pt) Net interest expenses (35,192) (7,646) (27,546) NA (77,584) (33,294) (44,290) NA Net foreign currency exchange result (136,586) (15,396) (121,189) NA 20,440 (59,471) 79,911 NA Other financial costs (146) (16.5) (3,376) (2,158) (1,218) 56.4 Net Financing Result (171,044) (22,163) (148,881) NA (60,520) (94,923) 34,403 (36.2) Total income taxes 25,311 (524) 25,834 NA 90,315 37,262 53,054 NA Net Income (116,838) 45,750 (162,588) NA 187, ,219 27, Net Income Margin (%) (26.5%) 14.4% (40.9 pt) (40.9 pt) 11.8% 13.1% (1.3 pt) (1.3 pt) Income attributable to: Controlling interest (45,910) 45,587 (91,497) NA 215, ,988 56, Non-controlling interest (70,928) 163 (71,091) NA (28,609) 231 (28,840) NA 23

24 Balance Sheet Figures in thousand Mexican Pesos Balance Sheet Summary Var $ Var % Cash and cash equivalents 288,015 1,731,587 (1,443,572) (83.4%) Accounts receivables and other current assets 185, ,013 63, % Creditable taxes 344, , ,950 NA Escrow deposit for hotel acquisition 24,176 11,570 12,606 NA Total current assets 842,032 2,022,374 (1,180,342) (58.4%) Restricted cash 103,655 67,486 36, % Property, furniture and equipment 6,510,002 3,046,944 3,463,059 NA Non-productive fixed assets 1,080, , ,242 NA Other fixed assets 490, , , % Total non-current assets 8,184,269 3,816,899 4,367,369 NA Total Assets 9,026,301 5,839,274 3,187, % Current installments of long-term debt 168, ,031 30, % Ohter current liabilities 358, , , % Total current liabilities 526, , , % Long-term debt 2,342,279 1,264,592 1,077, % Other non-current liabilities 817,998 79, ,735 NA Total non-current liabilities 3,160,277 1,343,855 1,816,422 NA Total Equity 5,339,061 4,144,934 1,194, % Total Liabilities and Equity 9,026,301 5,839,274 3,187, % 24

25 Cash Flow Figures in thousand of Mexican Pesos Fourth Quarter 12 months ended December 31 Cash Flow Statement % Var % Var. Cashflow from operating activities Net income (116,838) 45,750 NA 187, , Depreciation and amortization 50,889 36, , , Income taxes 25,311 (524) NA 90,315 37,262 NA Unrealized gain (loss) in foreign currency exchange 109,290 22,748 NA (47,655) 70,530 NA Net interest expense 35,192 7,646 NA 77,584 33,294 NA Other financial costs 735 (430) NA 3,376 2, Minority interest (1,015) (703) 44.4 (3,152) (2,491) 26.6 Cashflow before working capital variations 103, ,370 (7.0) 452, , Working Capital 46,088 16,694 NA 66,469 29,276 NA Net operating cashflow 149, , , , Non recurring (63,688) (19,125) NA (51,251) 16,066 NA Cashflow net from non-recurring items 85, ,939 (21.1) 467, , Investment activities (420,252) (394,619) 6.5 (1,789,129) (722,336) NA Financing activities 24,533 86,672 (71.7) (125,404) 1,897,373 NA Net (decrease) increase in cash and cash equivalents (309,755) (199,008) 55.6 (1,447,293) 1,633,859 NA Cash and cash equivalents at the beginning of the period 597,770 1,930,596 (69.0) 1,731,587 97,729 NA Cash and cash equivalents at the end of the period 288,015 1,731,588 (83.4) 284,294 1,731,588 (83.6) Cash in business acquisition - - NA 3,720 - NA Total Cash at the end of the period 288,015 1,731,588 (83.4) 288,015 1,731,588 (83.4) 25

26 Key Financial Highlights Figures in thousand Mexican Pesos Denominated in (currency): Debt* Pesos Dollars Total Short Term 26, , ,361 Long Term 345,695 1,996,584 2,342,279 Total 372,630 2,138,009 2,510,640 % Total 14.8% 85.2% 100.0% Average rate of financial liabilities 10.42% 4.36% 5.26% Cash and equivalents 139, , ,015 Restricted cash 9,696 93, ,655 Cash and equivalents** 149, , ,670 Net Debt 223,138 1,895,832 2,118,970 Net Debt / LTM EBITDA (as of December 31, 2017) 4.0x *Includes accrued interests and effect of financial instruments related to financial debt. **Includes restricted cash related to bank debt. 26

27 Currency Hedging Figures in thousands of Mexican Pesos Denominated in Pesos Fourth Quarter Denominated Total in Denominated in USD Pesos in Pesos Denominated in USD Total in Pesos Total Revenue 301, , ,308 1,051, ,731 1,581,496 % of Total Revenue 68.4% 31.6% 100.0% 66.5% 33.5% 100.0% ( - ) Total Costs and Expenses 306,974 38, ,513 1,044, ,095 1,197,469 ( - ) Non-recurring Expenses 17,293-17,293 48,962-48,962 Operating Income (22,388) 100,890 78,502 (41,570) 376, ,066 ( + ) Depreciation 50,889-50, , ,173 Operating Cashflow 28, , , , , ,239 % of Operating Cashflow 22.0% 78.0% 100.0% 21.4% 78.6% 100.0% Interest 4,926 25,438 30,364 20,045 71,516 91,561 Principal 7, , ,906 26, , ,444 Total Debt Service 12, , ,270 46, , ,005 Interest Coverage ratio 1 5.8x 4.0x 4.3x 5.1x 5.3x 5.2x Debt Service Coverage Ratio 2 2.3x 0.3x 0.4x 2.2x 0.8x 0.9x 1) Operating Cashflow / Interest; 2) Operating Cashflow / Total Debt Service 27

28 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. 28

29 Key Operating Statistics Solid revenue growth and strong EBITDA generation. Revenue Breakdown EBITDA 29

30 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 30

31 Hotels incorporated since IPO 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 Ibis Irapuato Opened 2Q Rooms Third-party Krystal Urban Guadalajara Opened 2Q Rooms Owned Krystal Pachuca Opened 1Q Rooms Third-party 3,490 Rooms incorporated % 3+3 Strategy: 84% % Krystal Brand: 73% % Urban Destinations: 62% % Resort Destinations: 38% % Use Conversion: 8% Hyatt Place Aguascalientes Opens 1Q Rooms Third-party Krystal Satelite Maria Bárbara Opened 2Q Rooms Owned Kystal Mexico City Airport Opened 4Q15 96 Rooms Third-Party Krystal Grand Insurgentes Mexico City Opens 2H Rooms 50% Krystal Grand Suites Mexico City Opened 3Q Rooms 50% Curio Collection Zacatecas Opens 2H18 32 Rooms Third-party 31

1,779 Rooms Resort and Urban 4 Hotels 587 Rooms Urban 1

Tourism 5 Stars 4 Stars 4 Stars Note: Figures include

32 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 587 Rooms Urban 1 Hotel 400 Rooms Resort 17 Hotels 4,495 Rooms Grand Tourism 5 Stars 4 Stars 4 Stars Note: Figures include owned hotels, third-party operated hotels and developments. 32

33 Krystal Urban Guadalajara (use conversion) 33

Contact Information Maximilian Zimmermann Investor

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

34 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 34

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)