MONTERREY, Mexico--(BUSINESS WIRE)--Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13) (“Fibra Inn” or “the Company”), a Mexican real estate investment trust specializing in the hotel industry serving the business traveler, today announced its financial guidance for 2015.
The Company expects to continue maintaining double-digit growth in terms of quarterly room revenues for comparable properties, versus the same period of the prior year. Of this growth, 60% is expected to stem from the increase in the average daily rate, which represents an approximate increase of 6% annually.
In terms of occupancy, Fibra Inn expects that this figure will reach levels in the mid-sixties in the coming years.
The expectations for 2015 are to increase NOI by 50% in terms of 2014, exclusively considering the 31 hotels that comprised the portfolio as December 31, 2014. Additionally, we expect to add Ps. 60 million to the NOI that correspond to the hotels incorporated into the portfolio during 2015.
Fibra Inn expects to add 15 hotels to its portfolio each year, in order to conclude with approximately 45 hotels in 2015 and 60 in 2016.
Fibra Inn has a portfolio of 31 hotels under operation plus 3 under development, for a total of 5,718 rooms; 645 of these are currently under construction.
About the Company
Fibra Inn is a Mexican trust formed primarily to acquire, develop, operate and rent a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra Inn has a portfolio of high-quality real estate properties aimed at the business traveler and that are geographically diversified throughout Mexican territory. The Company has signed Franchise Agreements with IHG to operate its global brands, including: Holiday Inn, Holiday Inn Express, Holiday Inn & Suites, Holiday Inn Express & Suites and Crowne Plaza; with Wyndham Hotel Group to operate its global brands Wyndham Garden and Microtel Inn & Suites by Wyndham. Additionally, it has licensing agreements and brand usage agreements with Hilton to operate its brand Hampton Inn by Hilton and with Starwood Hotels & Resorts Worldwide to operate the Aloft brand. The Company has properties that operate with domestic brands like Camino Real and Casa Grande. Additionally, Fibra Inn has agreements with IHG, Marriott International, Wyndham Hotel Group and Hoteles City Express for development of properties. These hotels enjoy some of the industry’s top loyalty programs. Fibra Inn recently listed its Real Estate Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFIs”) on the Mexican Stock Exchange and trades under the ticker symbol “FINN13”.
For more information, please visit our new website: www.fibrainn.mx
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.