MONTERREY, México--(BUSINESS WIRE)--Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV: FINN13, ADR OTC: DFBRY) (“Fibra Inn” or “the Company”), a Mexican real estate investment trust internally managed and specialized in the hotel industry serving the business traveler, today announced its operating results for its hotel indicators of May 2017.
|MONTHLY SAME-STORE SALES|
|41 hotels||May 2017||May 2016||Change %|
|Room Revenue (Ps. millions)||158.9||138.4||14.9%|
|Occupancy exc. addition of rooms||64.6%||61.0%||3.6 pp|
|RevPar exc. addition of rooms||780.2||679.2||14.9%|
The 14.9% increase in Revenue per Available Room was the net effect of the 8.5% rate increase and the 3.6 percentage points increase in occupancy.
Total Sales for May 2017 were:
|MONTHLY TOTAL SALES|
|May 2017||May 2016||Change %|
|Number of hotels||42||41|
|Room Revenue (Ps. millions)||163.7||138.7||18.0%|
The same-store sales calculation considers 41 comparable properties, as the criterion is to include hotels, which have been in Fibra Inn’s portfolio for at least half of the period. In this report, two hotels were excluded in total. These were: the Courtyard by Marriott Chihuahua hotel, which is recently built and has no operational history; and the Arriva Express Hotel Guadalajara, which is temporarily closed due to its conversion to the AC by Marriott brand.
To date, Fibra Inn has a total portfolio of 43 properties, of which 42 are under operation; the Arriva Express Guadalajara hotel is temporarily closed due to its conversion to the AC by Marriott brand, which will add 180 rooms to the portfolio. This represents a total of 7,115 rooms, of which 222 are under construction and 180 are being renovated. Additionally, Fibra Inn has a minority interest in two properties, currently being externally developed under the Strategic Hotel Acquisition Pipeline model, representing 430 rooms.
About the Company
Fibra Inn is a Mexican trust formed primarily to acquire, develop and rent a broad range of hotel properties in Mexico aimed at the business traveler. The Company has signed franchise, license and brand usage agreements with international hotel brands for the operation of global brands as well as the operation of national brands. Additionally, the Company has development agreements. These hotels enjoy some of the industry’s top loyalty programs. Fibra Inn trades its Real Estate Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFIs”) on the Mexican Stock Exchange under the ticker symbol “FINN13”; its ADRs trade on the OTC market in the U.S. under the ticker symbol “DFBRY”.
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.