Overview
- TickerMRNO on Nasdaq1
- IndustryHotels & Motels1
- HeadquartersLondon, United Kingdom1
- Incorporated inJersey2
- Business address25 Berkeley Square, London, X0 W1J 6Hn2
- Filer categoryNon-accelerated filer, Emerging growth company2
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As a result of the foregoing transactions, there were 79,242,873 ordinary shares and 16,875,000 warrants outstanding as of March 20, 2024.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in MXN, the currency the company reports in.
Key numbers, fiscal 2024
Where the money goes
Where each dollar of revenue went, fiscal 2024
- Selling, general and admin61¢1.4B MXN
- Interest35¢797.0M MXN
- Income tax3¢72.7M MXN
Out of 730.0M MXN in revenue.4 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | 1.1B MXN | 730.0M MXN | 286.7M MXN |
| Employee Benefits | 401.8M MXN | 325.5M MXN | 158.8M MXN |
| Food & Beverage and service cost | 197.0M MXN | 98.4M MXN | 50.5M MXN |
| Sales commissions | 33.8M MXN | 37.6M MXN | 12.0M MXN |
| Management fees operators | 49.8M MXN | 23.9M MXN | 6.0M MXN |
| Depreciation and amortization | 288.4M MXN | 319.8M MXN | 135.5M MXN |
| Property tax | 10.1M MXN | 12.4M MXN | 10.1M MXN |
| Fees | 141.4M MXN | 151.7M MXN | 81.2M MXN |
| Administrative fees | 5.0M MXN | 17.5M MXN | 16.1M MXN |
| Maintenance and conservation | 86.7M MXN | 52.7M MXN | 9.7M MXN |
| Utility expenses | 65.6M MXN | 67.5M MXN | 11.8M MXN |
| Advertising | 48.7M MXN | 53.1M MXN | 7.3M MXN |
| Donations | 5.6M MXN | 7.8M MXN | 7.7M MXN |
| Insurance | 46.7M MXN | 35.8M MXN | 14.8M MXN |
| Software | 1.5M MXN | 6.9M MXN | 6.7M MXN |
| Cleaning and laundry | 11.7M MXN | 11.3M MXN | 9.2M MXN |
| Replacement reserve (FF&E & OS&E) | 35.4M MXN | 9.3M MXN | 0 MXN |
| Bank commissions | 36.2M MXN | 31.1M MXN | 8.3M MXN |
| Operating supplies and equipment | 467.6K MXN | 21.8M MXN | 0 MXN |
| Other costs | 84.9M MXN | 98.2M MXN | 62.2M MXN |
| Total direct and selling, general and administrative expenses | 1.6B MXN | 1.4B MXN | 608.1M MXN |
| Other income | 83.8M MXN | 190.2M MXN | 25.6M MXN |
| Other expense | -2.2M MXN | -5.5M MXN | -9.8M MXN |
| Listing expense | 0 MXN | -917.4M MXN | 0 MXN |
| Gain (loss) on revaluation of investment property | 75.0M MXN | 239.5M MXN | -86.6M MXN |
| Changes in fair value of financial derivative instruments | 0 MXN | -43.3M MXN | -75.9M MXN |
| Changes in fair value of warrants | 63.5M MXN | -51.9M MXN | 0 MXN |
| Changes in fair value of crypto assets | 1.0M MXN | 0 MXN | 0 MXN |
| Exchange rate income (loss), net | 1.4B MXN | -1.5B MXN | 768.7M MXN |
| Interest income | 14.4M MXN | 34.9M MXN | 8.8M MXN |
| Interest expenses | -1.5B MXN | -797.0M MXN | -303.7M MXN |
| (Loss) profit before income taxes | -285.3M MXN | -3.5B MXN | 5.7M MXN |
| Income tax (benefit) expense | -2.9M MXN | 72.7M MXN | -52.1M MXN |
| Net (loss) profit for the period | -282.4M MXN | -3.6B MXN | 57.8M MXN |
| Revaluation of property, construction in process and equipment net of deferred income tax | -2.6B MXN | 234.4M MXN | -623.0M MXN |
| Remeasurement of net defined benefit liability net of deferred income tax | 955.9K MXN | 11.6K MXN | 87.2K MXN |
| Cumulative translation adjustment | -9.9M MXN | -5.2M MXN | 0 MXN |
| Other comprehensive income (loss) for the period | -2.7B MXN | 229.1M MXN | -622.9M MXN |
| Total comprehensive (loss) income | -2.9B MXN | -3.3B MXN | -565.1M MXN |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents and restricted cash | 273.7M MXN | 970.4M MXN | ||
| Trade receivables | 81.7M MXN | 64.5M MXN | ||
| VAT receivable | 416.7M MXN | 367.8M MXN | ||
| Other receivables | 30.3M MXN | 37.1M MXN | ||
| Prepayments | 15.0M MXN | 41.5M MXN | ||
| Assets held for sale | 2.3B MXN | 0 MXN | ||
| Inventories | 15.8M MXN | 11.5M MXN | ||
| Total current assets | 3.1B MXN | 1.5B MXN | ||
| Property, construction in process and equipment, net | 12.8B MXN | 18.8B MXN | 17.4B MXN | |
| Investment property | 1.4B MXN | 1.3B MXN | 1.1B MXN | |
| Right of use assets, net | 149.5M MXN | 200.2M MXN | 217.0M MXN | 591.0K MXN |
| Guarantee deposits | 27.2M MXN | 23.3M MXN | ||
| Other assets | 1 MXN | 1 MXN | ||
| Total non-current assets | 14.4B MXN | 20.4B MXN | ||
| Total assets | 17.5B MXN | 21.9B MXN | ||
| Current installments of long-term debt | 10.7B MXN | 3.5B MXN | ||
| Trade accounts payable and accumulated expenses | 674.7M MXN | 629.6M MXN | ||
| Deferred underwriting fee payable | 53.9M MXN | 50.1M MXN | ||
| Advance from customers | 195.1M MXN | 23.5M MXN | ||
| Due to related parties | 129.0M MXN | 120.6M MXN | ||
| Lease liabilities | 173.9M MXN | 46.1M MXN | ||
| Income tax payable | 7.0M MXN | 10.7M MXN | ||
| Employees' statutory profit sharing | 1.9M MXN | 2.6M MXN | ||
| Total current liabilities | 11.9B MXN | 4.4B MXN | ||
| Long-term debt, excluding current installments | 26.8M MXN | 7.7B MXN | ||
| Due to related parties, excluding current portion | 69.1M MXN | 73.8M MXN | ||
| Lease liabilities, excluding current portion | 7.6M MXN | 160.7M MXN | ||
| Employee benefits | 11.9M MXN | 10.2M MXN | ||
| Other liabilities | 81.9M MXN | 86.3M MXN | ||
| Warrants liability | 8.0M MXN | 75.8M MXN | ||
| Deferred tax liabilities | 3.1B MXN | 4.2B MXN | ||
| Total non-current liabilities | 3.3B MXN | 12.3B MXN | ||
| Total liabilities | 15.2B MXN | 16.7B MXN | ||
| Common Stock | 951.8M MXN | 925.8M MXN | ||
| Additional paid in capital | 723.6M MXN | 708.9M MXN | ||
| Accumulated deficit | -5.1B MXN | -4.8B MXN | ||
| Other comprehensive income | 5.7B MXN | 8.3B MXN | ||
| Total Stockholders' Equity | 2.3B MXN | 5.2B MXN | 7.8B MXN | 8.4B MXN |
| Total liabilities and Stockholders' Equity | 17.5B MXN | 21.9B MXN |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents and restricted cash | 273.7M MXN | 970.4M MXN | ||
| Trade receivables | 81.7M MXN | 64.5M MXN | ||
| VAT receivable | 416.7M MXN | 367.8M MXN | ||
| Other receivables | 30.3M MXN | 37.1M MXN | ||
| Prepayments | 15.0M MXN | 41.5M MXN | ||
| Assets held for sale | 2.3B MXN | 0 MXN | ||
| Inventories | 15.8M MXN | 11.5M MXN | ||
| Total current assets | 3.1B MXN | 1.5B MXN | ||
| Property, construction in process and equipment, net | 12.8B MXN | 18.8B MXN | 17.4B MXN | |
| Investment property | 1.4B MXN | 1.3B MXN | 1.1B MXN | |
| Right of use assets, net | 149.5M MXN | 200.2M MXN | 217.0M MXN | 591.0K MXN |
| Guarantee deposits | 27.2M MXN | 23.3M MXN | ||
| Other assets | 1 MXN | 1 MXN | ||
| Total non-current assets | 14.4B MXN | 20.4B MXN | ||
| Total assets | 17.5B MXN | 21.9B MXN | ||
| Current installments of long-term debt | 10.7B MXN | 3.5B MXN | ||
| Trade accounts payable and accumulated expenses | 674.7M MXN | 629.6M MXN | ||
| Deferred underwriting fee payable | 53.9M MXN | 50.1M MXN | ||
| Advance from customers | 195.1M MXN | 23.5M MXN | ||
| Due to related parties | 129.0M MXN | 120.6M MXN | ||
| Lease liabilities | 173.9M MXN | 46.1M MXN | ||
| Income tax payable | 7.0M MXN | 10.7M MXN | ||
| Employees' statutory profit sharing | 1.9M MXN | 2.6M MXN | ||
| Total current liabilities | 11.9B MXN | 4.4B MXN | ||
| Long-term debt, excluding current installments | 26.8M MXN | 7.7B MXN | ||
| Due to related parties, excluding current portion | 69.1M MXN | 73.8M MXN | ||
| Lease liabilities, excluding current portion | 7.6M MXN | 160.7M MXN | ||
| Employee benefits | 11.9M MXN | 10.2M MXN | ||
| Other liabilities | 81.9M MXN | 86.3M MXN | ||
| Warrants liability | 8.0M MXN | 75.8M MXN | ||
| Deferred tax liabilities | 3.1B MXN | 4.2B MXN | ||
| Total non-current liabilities | 3.3B MXN | 12.3B MXN | ||
| Total liabilities | 15.2B MXN | 16.7B MXN | ||
| Common Stock | 951.8M MXN | 925.8M MXN | ||
| Additional paid in capital | 723.6M MXN | 708.9M MXN | ||
| Accumulated deficit | -5.1B MXN | -4.8B MXN | ||
| Other comprehensive income | 5.7B MXN | 8.3B MXN | ||
| Total Stockholders' Equity | 2.3B MXN | 5.2B MXN | 7.8B MXN | 8.4B MXN |
| Total liabilities and Stockholders' Equity | 17.5B MXN | 21.9B MXN |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| (Loss) profit before income taxes | -285.3M MXN | -3.5B MXN | 5.7M MXN |
| Depreciation of property, construction in process and equipment | 237.7M MXN | 271.5M MXN | 128.7M MXN |
| Depreciation of right of use assets | 50.6M MXN | 48.2M MXN | 6.8M MXN |
| Disposals of furniture | 0 MXN | 0 MXN | 6.7M MXN |
| Gain in sale of equipment | 0 MXN | -157.0M MXN | 0 MXN |
| Amortization of costs to obtain loans and commissions | 30.3M MXN | 66.4M MXN | 8.1M MXN |
| Listing expense | 0 MXN | 917.4M MXN | 0 MXN |
| Valuation of financial derivative instruments | 0 MXN | 43.3M MXN | 75.9M MXN |
| Valuation of warrants | -63.5M MXN | 51.9M MXN | 0 MXN |
| Gain in valuation of crypto assets | -1.0M MXN | 0 MXN | 0 MXN |
| (Gain) loss on revaluation of investment property | -75.0M MXN | -239.5M MXN | 86.6M MXN |
| Interest expense | 1.4B MXN | 775.7M MXN | 300.5M MXN |
| Interest expense from lease liabilities | 20.3M MXN | 21.3M MXN | 3.3M MXN |
| Interest income | -14.4M MXN | -34.9M MXN | -8.8M MXN |
| Net foreign exchange gain (loss) unrealized | -1.4B MXN | 1.6B MXN | -756.4M MXN |
| Cash flows from operations | -74.5M MXN | -162.7M MXN | -143.1M MXN |
| Increase in receivable VAT | -48.9M MXN | -125.7M MXN | -13.3M MXN |
| Increase in trade receivable | -17.2M MXN | -47.7M MXN | -16.8M MXN |
| Decrease (increase) in other receivables | 6.8M MXN | -8.8M MXN | -2.9M MXN |
| Decrease (increase) in prepayments | 26.5M MXN | -22.7M MXN | 24.3M MXN |
| (Increase) decrease in inventory | -4.3M MXN | -10.0M MXN | 496.9K MXN |
| Increase in guarantee deposits | -3.9M MXN | -1.8M MXN | -21.5M MXN |
| Increase in trade payables and advance from customers | 218.8M MXN | 266.8M MXN | 275.5M MXN |
| (Decrease) increase in other liabilities | -4.4M MXN | 23.8M MXN | 62.5M MXN |
| Increase in employee benefits | 3.0M MXN | 1.4M MXN | 2.1M MXN |
| (Decrease) increase in employees' statutory profit sharing | -683.7K MXN | 359.8K MXN | 101.1K MXN |
| Income taxes paid | -8.4M MXN | -7.6M MXN | -2.2M MXN |
| Net cash flows from (used in) operating activities | 92.8M MXN | -94.8M MXN | 165.2M MXN |
| Interest received and cash settlement of derivatives | 14.4M MXN | 108.5M MXN | 2.1M MXN |
| Disposal of property, construction in process and equipment | 11 MXN | 0 MXN | 157.0M MXN |
| Loans collected from (granted to) related parties | 0 MXN | 143.5M MXN | -136.8M MXN |
| Investment in crypto assets | -41.9M MXN | 0 MXN | 0 MXN |
| Disposal of Crypto assets | 43.0M MXN | 0 MXN | 0 MXN |
| Acquisition of property, construction in process and equipment | -282.6M MXN | -1.3B MXN | -1.7B MXN |
| Net cash flows used in investing activities | -267.2M MXN | -1.1B MXN | -1.7B MXN |
| Capital increase | 26.0M MXN | 0 MXN | 0 MXN |
| Additional paid in capital - warrants exercised | 14.7M MXN | 0 MXN | 0 MXN |
| Withdrawals for future net assets increase | 0 MXN | 0 MXN | -55.9M MXN |
| Impact of corporate restructuring | 0 MXN | 2.2M MXN | 0 MXN |
| Impact of business combination | 0 MXN | 635.5K MXN | 0 MXN |
| Treasury shares | 0 MXN | -4.6M MXN | 0 MXN |
| Proceeds from loans | 558.8M MXN | 9.0B MXN | 2.1B MXN |
| Loan payments to third parties | -359.4M MXN | -6.0B MXN | -272.1M MXN |
| Loans received from related parties | 123.4M MXN | 417.3M MXN | 60.6M MXN |
| Loan payments to related parties | -110.4M MXN | -476.2M MXN | -96.7M MXN |
| Costs to obtain loans and commissions | 0 MXN | -265.7M MXN | -37.1M MXN |
| Payments of leasing liabilities | -45.4M MXN | -53.9M MXN | -19.2M MXN |
| Interest paid | -729.9M MXN | -565.8M MXN | -257.7M MXN |
| Net cash flows (used in) from financing activities | -522.3M MXN | 2.0B MXN | 1.4B MXN |
| Net (decrease) increase in cash and cash equivalents and restricted cash | -696.7M MXN | 824.0M MXN | -94.4M MXN |
No quarter-by-quarter statement was filed.
Corporate structure
Murano Global Investments Plc sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Murano Global Investments Plc
- Linden Capital L.P. Filed SC 13G/A on Murano Global Investments Plc, latest Nov 8, 2024
- HCM Investor Holdings, LLC Filed SC 13D on Murano Global Investments Plc, latest Mar 29, 2024
- Cababie Elias Sacal Filed SC 13D on Murano Global Investments Plc, latest Mar 28, 2024
- Murano Global Investments Plc London, United Kingdom
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Murano Global Investments Plc reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, net | 18.8B MXN4 Dec 31, 2024 | 17.4B MXN4 Dec 31, 2023 | +8.0% |
| Operating-lease assets (leased space) | 200.2M MXN4 Dec 31, 2024 | 217.0M MXN4 Dec 31, 2023 | −7.8% |
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | 1.3B MXN4 Dec 31, 2024 | 1.1B MXN4 Dec 31, 2023 | +21.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | 970.4M MXN4 Dec 31, 2024 | 146.4M MXN4 Dec 31, 2023 | +563.0% |
Inventory
Leadership
Who has led Murano Global Investments Plc, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
Chief operating officer
- Chief executive officerCababie Elias Sacal May 11, 2026 to now7
- Chief financial officerEscobar Oscar Jazmani Mendoza May 11, 2026 to now8
- Chief operating officerCohen Marcos Sacal May 11, 2026 to now9
Board members and other officers (3)
- Board memberCababie Elias Sacal May 11, 2026 to now7
- Board memberCohen Marcos Sacal May 11, 2026 to now9
- Board memberGarcia Julio Arias May 11, 2026 to now10
Former names
- Murano Global Investments LtdAug 9, 2023 to May 1, 20242
Timeline
- May 11, 2026New chief executive Cababie Elias Sacal becomes CEO7
Filings
79 filings to the SEC since October 2021: 5 annual reports, 4 insider forms, 3 large holders, 67 other. The latest 20:
- Oct 7, 20266-K EDGAR
- Oct 7, 20266-K EDGAR
- Aug 14, 20266-K EDGAR
- Aug 4, 20266-K EDGAR
- Jul 29, 20266-K EDGAR
- Jul 27, 20266-K EDGAR
- Jul 22, 20266-K EDGAR
- Jul 14, 20266-K EDGAR
- Jun 4, 20266-K EDGAR
- May 15, 202620-F EDGAR
- May 11, 20263 EDGAR
- May 11, 20263 EDGAR
- May 11, 20263 EDGAR
- May 11, 20263 EDGAR
- Apr 30, 2026NT 20-F EDGAR
- Apr 13, 20266-K EDGAR
- Mar 10, 20266-K EDGAR
- Dec 30, 20256-K EDGAR
- Oct 15, 20256-K EDGAR
- Sep 30, 20256-K EDGAR
The 79 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Linden Capital L.P.SC 13G/A, 1 filing Nov 8, 202411
- HCM Investor Holdings, LLCSC 13D, 1 filing Mar 29, 202412
- Cababie Elias SacalSC 13D, 1 filing Mar 28, 202413
SEC filer profile
How Murano Global Investments Plc is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARMurano Global Investments Plc1
- CIK0001988776
- Employer ID (EIN)98-17438511
- Filer statusNon-accelerated filer an emerging growth company; not a shell company3
- Incorporated inJersey3
- Industry code (SIC)7011 Hotels & Motels1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address25 Berkeley Square, London, X0 W1J 6HN1
- Phone44(0)20716764401
- Shares outstanding79,718,832 shares as of Dec 31, 20253
- AuditorKPMG Cárdenas Dosal, S.C., Mexico City, Mexico PCAOB ID 1141; it also attests to the company’s internal control over financial reporting3
- On EDGAR sinceAug 9, 20231
- Filings79 in all: 6-K (28), CORRESP (8), UPLOAD (8), 424B3 (7), F-4/A (6), 20-F (4), 3 (4), NT 20-F (3)1
All 17 form types
EFFECT (2), SC 13D (2), 20-F/A (1), 8-A12B (1), CERT (1), DRS (1), F-1 (1), F-4 (1), SC 13G/A (1)
- Latest filingsAnnual report (20-F) May 15, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary shares, no par value | MRNO | NASDAQ |
| Warrants, each exercisable for one ordinary share at an exercise price of $11.50 per ordinary share | MRNOW | NASDAQ |
From the cover page of the 20-F filed May 15, 2026 (Section 12(b) of the Exchange Act).3
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10SEC EDGARGarcia Julio Arias, Board member
- 11
- 12
- 13