Company PresentationMay 2017

1

CONFIDENTIAL

Grupo Hotelero Santa Fe

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CONFIDENTIAL

Santa Fe at a Glance

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We are one of the leading companies in the hotel industry, with aMexican DNA; our focus is in acquiring, converting, operating ownedand third-party hotels as well as developing.

We are renowned for our operating efficiency and our proprietaryKrystal brand.

We are committed to continue being a Company that is a great place towork, and provides an excellent service to our guests, we respect ourenvironment and generate a high profitability to our shareholders.

We belong to the ranking of “Super Empresas Expansion 2016” and ourpersonnel amounts to over 2,800 staff members.

Owned 3,64560%

Management2,44538%

Co-investment 1342%

Stabilized 3,19149%

Maturity Stage 1,93330%

Development 1,39121 %

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HOTEL Snapshot

HOTEL Overview

Portfolio of 23 hotels: 13 owned and 10 under Management Agreement20 operating and 3 under construction

Figures since IPO (September 2014)

Current Portfolio = 6,514 Keys

Krystal 5,044 77%

Others 1,470 23%

# Keys

PExecutive Team with 7 years in the company, but with more than 20 years working together

PUrban 3,10248%

Resort 3,412 52%

Segment Category

Grand Tourism

3,17949%5 Stars

1,65525%

4 Stars1,68026%

Brands

# Keys # Keys

Properties Stabilization Stage# Keys# Keys

EBITDA Growth

Revenue Growth

141%

Keys under Management Growth

91%

40%

Hotels Incorporated since the IPO

5

Monterrey AeropuertoSeptember 2015Co-investment @15%

Paraíso, TabascoOctober 2015Management

Aeropuerto Mexico City

December 2015Management

Krystal Grand InsurgentesMexico City

December 2015Owned @ 50%In ConstructionOpens in 2018

Krystal Urban CancunDecember 2014

Owned

Krystal Urban GuadalajaraMarch 2016Owned

SateliteMaria BárbaraMay 2015Owned

Krystal Grand SuitesMexico City

May 2016Owned @ 50%In ConstructionOpens in 3Q17

16 Hotels with 3,323 KeysIncluding expansions Krystal Monterrey

January 2017Management

Krystal PachucaFebruary 2017Management

Krystal Grand Nuevo VallartaFebruary 2017Owned @ 50%Expansion opens 4Q17

Krystal Grand Los CabosFebruary 2017Owned @ 50%

AC by MarriotDistrito ArmidaFebruary 2017Management

In ConstructionOpens 2Q19

CONFIDENTIAL 6

Portfolio under Development

Krystal Grand Insurgentes(Mexico City)

• 50% Ownership• 250 Keys• Grand Tourism• Gastro Center• Condo Hotel

Opens: 2018

Krystal Grand Suites(Mexico City)

• 50% Ownership• 200 Keys• 5 Stars

Opens: 3Q17

Actualizar

Krystal Grand Punta Cancun Expansion

7

• Expansion of 100 suites meaning an increase of 34% of existing rooms inventory.

• Under Development (Permits and Licensees in place)

• Opens in 3Q17

• ¿WHY THE EXPANSION?

• KGPC´s RevPAR is 50% higher than the average RevPAR of the company

• Occupancy in Cancun is in average 18% higher than Mexico as country average (Datatur, 2016)

• Expecting synergies and overhead leverage shall increase operating margins

Artist renderings

Hilton Puerto Vallarta Expansion

8

• Expansion of 192 suites meaning an increase of 74% of existing rooms inventory.

• Under Development (Permits and Licensees in place)

• Opens in 4Q17

• ¿WHY THE EXPANSION?

• Hilton Puerto Vallarta´s RevPAR is 40% higher than the average RevPAR of the company

• Occupancy in Puerto Vallarta is in average 10% higher than Mexico as country average (Datatur, 2016)

• Expecting synergies and overhead leverage shall increase operating margins

Artist renderings

Tabasco:1. Hampton Inn & Suites

Paraíso, Tabasco

Los Cabos:1. Krystal Grand

Los Cabos

Ciudad Juarez:1. Krystal Urban

Ciudad JuarezMonterrey:1. Hilton Garden Inn Monterrey2. Hilton Garden Inn Monterrey Aeropuerto3. Krystal Monterrey4. AC by Marriot Distrito Armida (Opening 2019)

Cancun:1. Krystal Resort Cancun2. Krystal Grand Punta

Cancun (Expansion)3. Krystal Urban Cancun

Centro

Puerto Vallarta:1. Krystal Resort Puerto Vallarta

(Expansion)2. Hilton Puerto Vallarta (Expansion)

Guadalajara:1. Hilton Guadalajara2. Krystal Urban Guadalajara

Ixtapa:1. Krystal Resort Ixtapa

Acapulco:1. Krystal Beach Acapulco

Under Construction

Operating Contracts

Mexico City:1. Krystal Grand Reforma Uno2. Krystal Urban Aeropuerto Mexico City3. Krystal Satélite María Bárbara4. Krystal Suites (Opening 3Q17)5. Krystal Grand Insurgentes (Opening 2018)

Pachuca:1. Krystal Pachuca

Nuevo Vallarta:1. Krystal Grand Nuevo Vallarta

(Expansion)

CONFIDENTIAL 9

Portfolio of 23 hotels and 6,514 keys

Santa Fe Footprint

Presence in Mexico’s main Urban and Resort destinations.

Note: Figures include owned hotels, third-party managed hotels and projects under construction..

Owned Hotels

CONFIDENTIAL 10

Krystal® Brand Architecture

4 Cities

6 Hotels

2,278Rooms

Resort and Urban

Grand Tourism

6 Cities

6 Hotels

1,779Rooms

Resort and Urban

5 Stars

1 City

1 Hotel

400Rooms

Resort

4 Stars

4 Cities

4 Hotels

587Rooms

Urban

4 Stars

Note: Figures include owned hotels, third-party operated hotels and developments.

17Hotels

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Krystal Urban Guadalajara

Operating Model

Focus in our Krystal brand —value, scale and profitability, over 3 Billion pesos invested in Krystal Assets in the last 36 months by GHSF and third party investors

66% domestic customers. High penetration of the Krystal brand

Balance Portfolio take advantage of seasonalityin destiny´s

Management of different categories, destiny´s and brands: Diversification

Multifunction Model of personnel in the hotels which allows us to get efficiencies. EPAR HOTEL: 0.6

12

Flexibility Adaptability Efficiency

P

P

P

P

P

1 EPAR: Employees per Available Room .

Operating Model Focus on profitability with an efficient cost structure

Resort

All Inclusive

Hybrid

Krystal Urban

EuropeanPlan

4 5

Main Focus

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Case 1: Krystal Grand Punta Cancun

Krystal Grand Punta CancunAcquired on September 2013(formerly Hyatt Cancun)

Million Pesos

2013

EBITDA Hyatt

2014

EBITDA KGPC

2016

EBITDA Margin

• Operating Model which allows:

✓ Reach Efficiencies

✓ Multifunctional personnel

✓ Flexibility and adaptability with our Krystal brand

✓ High Standards of Quality and Service

• Management Team:

✓ Experience with proven track record

✓ Market Knowledge, the markets and customers

✓ High quick reaction capacity (trends, environment and operating conditions)

• Investments:

✓ Capacity to co-invest in properties

✓ Technical Assistance in hotels under development to make investment more efficient

Case 3: Krystal Grand Reforma Uno

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• Renovation and positioning of the hotel through the Krystal Grand brand in March 2014

• From 2013 through 2016:

GOP increase 12 pp

EBITDA increase 70%

Before Renovation After Renovation

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Acquired in May 2015

Product Improvement Plan• Renovation of hotel premises (rooms, lobby, restaurants and ball

rooms).

Sales & Marketing Plan• Strategic plan with direct distribution channels, Krystal Rewards loyalty

program, corporate and commercial accounts, OTA’s, and otherdistribution channels.

Operations• Cost and expense analysis.• Processes reengineering and employee training programs.• Operating efficiencies.• Improve quality standards.

Case 2: Turnaround of Krystal Satelite (Greater Mexico City)

CONFIDENTIAL

Solid performance drives profitability.

Occupancy Average Daily Rate (ADR)

Revenue per Available Room (RevPAR) Total Rooms

Key Operating Statistics

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Note: Figures include owned hotels, third-party operated hotels and under construction as of March 2017, excluding KPI’s.

+7%72%

+7% +44%

CONFIDENTIAL

Revenue Breakdown

Solid revenue growth and strong EBITDA generation.

EBITDA

Key Financial Indicators

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+ 17%

- 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000

10,000 11,000 12,000 13,000 14,000 15,000 16,000

Global Follow On Public Offer

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• FOP offer of 215.58 million shares @Ps. 8.5 per share or Ps. 1,832.5 millionto continue execution of expansionplan and with an oversubscription of2X.

• Equity increased 88.1%, strengthening our financial position.

• Shares increased from 275.50 million to491.08 million and float increasedfrom 27.2% to 46.12% or 2.34x interms of number of shares.

• Improvement of ADTV since FO: 13x

VOLUME (THOUSANDS)

HOTEL*.MX vs. Benchmark

Announcement of the results of the US presidential election

Banxico’s statement (starting rate hikes)

FIHOHCITY

FINN

IPC

HOTEL

-50.00%

-45.00%

-40.00%

-35.00%

-30.00%

-25.00%

-20.00%

-15.00%

-10.00%

-5.00%

0.00%

5.00%

10.00%

15.00%

Follow-on

CONFIDENTIAL

GHSF’s Growth Strategy

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Take advantage of our operating capacity and commercialization to accelerate growthand value creation.

• Continue with our focus in providing extraordinary results both in stabilized hotelsand hotels in stabilization stage.

• Create additional revenue opportunities within our properties through active assetmanagement.

• Capitalize our operating capacity and continue our growth via acquisitions,conversions , third-party management and development.

• Continue to increase our Krystal brand’s presence in the 4 and 5 stars in Key Urban& Resort Markets segments.

• Take advantage of the low penetration of hotel chains and increase our presence.

• Increase the number of third-party hotels under management to expand ournetwork.

CONFIDENTIAL

Appendix

20

Financial Statements

and Exhibits

CONFIDENTIAL 21

Key Events in Santa Fe history

▪ Santa Fe acquires the AvalonAcapulco, now Krystal BeachAcapulco and the Hyatt RegencyCancun, now Krystal GrandCancun.

▪ A CKD fund acquires the MeliáReforma, now Krystal GrandReforma Uno, an emblematic hotelwith 500 keys, and execute themanagement agreement with SantaFe after a selection process.

▪ Grupo Chartwell joint venturewith Nexxus Capital andWalton St. Capital for thecreation of Grupo HoteleroSanta Fe ("Santa Fe"), keepingthe original management team.

2014

2010

▪ Santa Fe opens the Hilton PuertoVallarta, Mexico, first hoteldeveloped by the Company.

2012

2015

▪ Santa Fe acquires the KrystalBrand from NH Hotels

▪ Santa Fe acquires the HiltonGuadalajara, Hilton GardenInn Monterrey and HiltonGarden Inn Ciudad Juárezhotels from NH Hotels

2013

▪ Santa Fe acquires the MariaBárbara hotel, now KrystalSatélite Maria Bárbara.

▪ Santa Fe makes a co-investment with local partnerfor the development of theKrystal Grand Insurgenteshotel and the KrystalResidences & SuitesInsurgentes.

▪ Santa Fe performs their IPOin the Mexican StockExchange for MX$ 750millions under the tickerHOTEL.

▪ Santa Fe acquires the B2BCancun hotel, now KrystalUrban Cancun Centro.

▪ Opening of the KrystalUrban Guadalajara, firsthotel which representsa use conversion for theCompany.

▪ Santa Fe performs inJune 2016 a Follow Onfor MX$ 1,832.5millions which includesthe exercise of theGreen Shoe

2016

Non-commissionable,

21%

Commissionable, 79%

Hilton Garden Inn

Monterrey

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Diversified Distribution Channels

Commercial Models Examples Diversified Distribution Channels

Urban Hotels 2016

Resorts Hotels 2016

HOTEL has developed different products and concepts which maintain our brands within the preference of domestic and international travelers

European Plan

Hilton

Guadalajara

Krystal Grand

Reforma Uno

Hybrid (European Plan and All Inclusive)

All Inclusive

Krystal Urban

Cancún

Krystal Puerto

Vallarta

Krystal Grand

Punta Cancún

Hilton Puerto

Vallarta

Krystal Beach

Acapulco

Krystal Ixtapa

Krystal Urbano

Ciudad Juárez

Increasing Strength in Non-commissionable Distribution Channels benefits profitability

Non-commissionable,

59%

Commissionable, 41%

Key Financial Highlights – Financial Debt

23

• 1Q17 Net Debt was Ps. 422 million, which represents Net Debt/ LTM EBITDA 0.9x.

• 81% of total debt is U.S.-dollar denominated with an average cost of 4.10%, and 19% is peso-denominated with anaverage weighted cost of 9.14%. In addition, 94% of debt maturities are long-term.

• HOTEL has a dollar-denominated cash balance of Ps. 567 million, decreasing its exposure to currency risks.

Figures in thousand Mexican Pesos Denominated in (currency):

Debt* Pesos Dollars Total

Short Term 29,436 97,186 126,622

Long Term 261,744 1,144,131 1,405,874

Total 291,179 1,241,317 1,532,496

% Total 19.0% 81.0% 100.0%

Average rate of financial liab ilities 9.14% 4.10% 5.06%

Cash and equivalents 533,971 509,095 1,043,065

Restricted cash 9,179 58,251 67,429

Cash and equivalents** 543,149 567,345 1,110,495

Net Debt (251,970) 673,971 422,001

Net Debt / LTM EBITDA (as of 31 March 2017) 0.9x

*Includes accrued interests and effect of financial instruments related to financial debt.

**Includes restricted cash related to bank debt.

Currency Hedging

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• For 1Q17, 38% of total revenue and 80% of operating cash flow were denominated in US Dollars.

• The Company’s YTD dollar-denominated operating cash flow provided an ICR of 5.9x and a DSCRof 1.9x.

Figures in thousand of Mexican Pesos First Quarter 2017

Currency Hedging Analisis Denominated

in Pesos

Denominated

in USD

Total in

Pesos

Total Revenue 240,693 146,348 387,041

% of Total Revenue 62.2% 37.8% 100.0%

( - ) Total Costs and Expenses 229,721 35,172 264,893

( - ) Non-recurring Expenses 11,812 - 11,812

Operating Income (840) 111,176 110,336

( + ) Depreciation 28,497 - 28,497

Operating Cashflow 27,657 111,176 138,833

% of Operating Cashflow 19.9% 80.1% 100.0%

Interest 4,442 18,859 23,301

Principal 5,154 39,535 44,689

Total Debt Service 9,596 58,394 67,990

Interest Coverage ratio1 6.2x 5.9x 6.0x

Debt Service Coverage Ratio2 2.9x 1.9x 2.0x

1) Operating Cashflow / Interest; 2) Operating Cashflow / Total Debt Service

CONFIDENTIAL 25

Income Statement

Figures in thousand Mexican Pesos

Income Statement 2017 2016 % Var. 2017 2016 % Var.

Room Revenue 218,857 185,422 18.0 218,857 185,422 18.0

Food and Beverage Revenue 104,785 88,212 18.8 104,785 88,212 18.8

Other Revenue from Hotels 37,737 28,145 34.1 37,737 28,145 34.1

Third-party Hotels' Management Fees 25,661 20,372 26.0 25,661 20,372 26.0

Total Revenue 387,041 322,151 20.1 387,041 322,151 20.1

Cost and Operating Expenses 135,196 113,871 18.7 135,196 113,871 18.7

Sales and Administrative 96,461 75,124 28.4 96,461 75,124 28.4

Other Expenses 4,738 3,880 22.1 4,738 3,880 22.1

Depreciation 28,497 24,632 15.7 28,497 24,632 15.7

Total Costs and Expenses 264,893 217,507 21.8 264,893 217,507 21.8

Total Non Recurring Expenses 11,812 5,815 103.1 11,812 5,815 103.1

EBITDA 150,646 129,276 16.5 150,646 129,276 16.5

EBITDA Margin(%) 38.9% 40.1% (1.2 pt) 38.9% 40.1% (1.2 pt)

Operating Income 110,336 98,829 11.6 110,336 98,829 11.6

Operating Income Margin (%) 28.5% 30.7% (2.2 pt) 28.5% 30.7% (2.2 pt)

Net Financing Result 98,220 (5,988) (1,740.3) 98,220 (5,988) (1,740.3)

Total income taxes 24,265 23,160 4.8 24,265 23,160 4.8

Net Income 184,926 70,391 162.7 184,926 70,391 162.7

Net Income Margin (%) 47.8% 21.9% 25.9 pt 47.8% 21.9% 25.9 pt

First Quarter 3 months ended March

CONFIDENTIAL

Balance Sheet

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Figures in thousand Mexican Pesos

Balance Sheet Summary Mar-17 Mar-16 Var $ Var %

Cash and cash equivalents 1,043,065 117,519 925,547 787.6%

Accounts receivables and other current assets 158,042 139,026 19,016 13.7%

Creditable taxes 260,069 117,807 142,263 120.8%

Escrow deposit for hotel acquisition 11,621 10,250 1,370 NA

Total current assets 1,472,797 384,601 1,088,196 282.9%

Restricted cash 67,429 56,562 10,868 19.2%

Property, furniture and equipment 6,025,054 2,941,809 3,083,245 104.8%

Other fixed assets 295,492 267,938 27,553 10.3%

Total non-current assets 6,387,975 3,266,309 3,121,666 95.6%

Total Assets 7,860,773 3,650,911 4,209,862 115.3%

Current installments of long-term debt 126,622 93,882 32,740 34.9%

Other current liabilities 1,292,922 205,018 1,087,903 530.6%

Total current liabilities 1,419,543 298,900 1,120,643 374.9%

Long-term debt 1,405,874 994,215 411,660 41.4%

Other non-current liabilities 84,981 89,876 (4,895) (5.4%)

Total non-current liabilities 1,490,855 1,084,091 406,765 37.5%

Total Equity 4,950,375 2,267,920 2,682,455 118.3%

Total Liabilities and Equity 7,860,774 3,650,911 4,209,863 115.3%

CONFIDENTIAL

Cashflow

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GRUPO HOTELERO SANTA FE, S.A.B. de C. V.

Consolidated Cash Flow

For the three month period ended 31 March 2017 and 2016

Figures in thousand Pesos

Cash Flow Statement 2017 2016 % Var. 2017 2016 % Var.

Cashflow from operating activities

Net income 184,926 70,391 162.7 184,926 70,391 162.7

Depreciation and amortization 28,497 24,632 15.7 28,497 24,632 15.7

Income taxes 24,265 23,160 4.8 24,265 23,160 4.8

Unrealized gain (loss) in foreign currency exchange (118,908) (4,993) 2281.7 (118,908) (4,993) 2281.7

Net interest expense 8,693 12,136 (28.4) 8,693 12,136 (28.4)

Other financial costs 1,136 1,442 (21.2) 1,136 1,442 (21.2)

Cashflow before working capital variations 127,975 126,768 1.0 127,975 126,768 1.0

Working Capital 29,958 (11,552) (359.3) 29,958 (11,552) (359.3)

Net operating cashflow 157,933 115,217 37.1 157,933 115,217 37.1

Non recurring items (24,908) (4,410) 464.8 (24,908) (4,410) 464.8

Cashflow net from non recurring items 133,025 110,807 20.1 133,025 110,807 20.1

Investment activities (767,565) (112,298) 583.5 (767,565) (112,298) 583.5

Financing activities (57,701) 21,281 (371.1) (57,701) 21,281 (371.1)

Net (decrease) increase in cash and cash equivalents (692,242) 19,789 (3598.1) (692,242) 19,789 (3598.1)

Cash and cash equivalents at the beginning of the period 1,731,587 97,729 1671.8 1,731,587 97,729 1671.8

Cash and cash equivalents at the end of the period 1,039,345 117,518 784.4 1,039,345 117,518 784.4

Cash in Business Acquisition 3,720 - NA 3,720 - NA

Total Cash at the end of the period 1,043,065 117,518 787.6 1,043,065 117,518 787.6

First Quarter 3 months ended March

69%

28% 21%

31%

72% 79%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

USA Brazil MexicoChain Independent

CONFIDENTIAL 28

Tourism GDP Contribution as of 2015

Mexico ranks # 9 in terms of

arrival of international

travelers worldwide

Mexico ranks # 8 in terms of GDP Tourism contribution worldwide

Mexico ranks # 6 in terms of

Tourism job creation

worldwide

Mexico ranks # 9 in terms of investment in the Tourism

Sector worldwide

Penetration of chains in the Hotel Industry

Sources: WTTC y JLL

Tourism in Mexico

8.50%

2.60%

3.60% 3.50%

MEX EUA UNIÓN EUROPEA BRASIL

7%

14%

17%

36%

26%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Total Population: 120 mm

AB C+ C D+ DE

4,179

10,463

-

2,000

4,000

6,000

8,000

10,000

12,000

2010 2020 E

Middle Class anual expenditure per capita (USD)

CONFIDENTIAL 29

Occupancy: Industry vs HOTEL

Sources: WTTC; DATATUR, CONAPO, INEGI and GHSF

2015 business and pleasure traveling expenditure* Touristic activity expenditure by nationality

Target Market

35mm31%

2016 expected growth:

Leisure: 6.0%Business: 6.5%

2016 expected growth:

Foreign: 9.5%Domestic: 5.6%

International Travelers

Hotel Sector: a big opportunity

Foreign11%

Domestic89%

*

Leisure90%

Business10%

40%

45%

50%

55%

60%

65%

70%

75%

2010 2011 2012 2013 2014 2015

Industry HOTEL

+ 10 pp

CONFIDENTIAL 30

Contact Information

For more information please contact:

Enrique Martínez GuerreroCFOemartinez@gsf-hotels.com+52 (55) 5261-0800

Please visit our website: www.gsf-hotels.com

Maximilian ZimmermannIROmzimmermann@gsf-hotels.com+52 (55) 5261-0800

Legal Note on Forward Looking Statements:The information provided in this report contains certain forward-looking statements and information related to Grupo Hotelero Santa Fe, S.A.B. de C.V. and itssubsidiaries (jointly “Grupo Hotelero Santa Fe”, “HOTEL”, or the “Company”) which are based in the understanding of its managers, as well as in assumptions andinformation currently available for the Company. Such statements reflect the current view of Grupo Hotelero Santa Fe in regard to future events subject to a number ofrisks, uncertainties and assumptions. Several features may cause that the results, performance or current achievements of the Company may differ materially withrespect to future results, performance or attainments of Grupo Hotelero Santa Fe that may be included, expressly or implied within such statements in regard to thefuture, including among others, alterations in the economic general conditions and/or politics, governmental and commercial changes globally or within the countriesin which the Company has any business interests, changes in the interests rates and inflation, exchange rates volatility, changes in the demand and regulations of theproducts marketed by the Company, changes in the price of raw materials and other goods, changes in the business strategies and several other features. If one ormore of this of risks or uncertainties are materialized, or if the assumptions used result to be incorrect, the real results may materially differ from those describedherein as anticipated, believed, expected or envisioned. Grupo Hotelero Santa Fe undertakes no obligation to update or revise any forward-looking statements.