Murano Global Investments plc has reported its financial results for the fiscal year ending December 31, 2024. The company recorded a net profit of Ps.$57.8 million, which represents a significant decrease of Ps.$186.6 million compared to the net profit of Ps.$244.4 million for the previous year. The decline in net profit is attributed to various factors impacting the company's operations. The company's revenues are derived from hotel operations, and management uses these figures to assess overall business performance. For the year 2024, Murano Global Investments reported an EBITDA of negative Ps.$2.38 billion, contrasting sharply with the positive Ps.$444.9 million recorded in 2023. Additionally, the adjusted EBITDA was reported at negative Ps.$2.31 billion, compared to a positive Ps.$500.9 million in the previous year. Murano Global Investments operates its hotel properties across various locations, with operations in the Insurgentes 421 Hotel among its portfolio. The company has noted that a portion of its revenues is denominated in U.S. dollars or linked to the U.S. dollar, while most operating expenses are in pesos, indicating that foreign currency exchange rates may significantly impact future operations.
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