MONTERREY, Mexico--(BUSINESS WIRE)--Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV: FINN13, OTC: DFBRY) (“Fibra Inn” or “the Company”), an internally-managed Mexican real estate investment trust specializing in the hotel industry with international brands, serving the business traveler, today announced its operating results for its hotel indicators as of February 2017.
|MONTHLY SAME-STORE SALES|
|Room Revenue (Ps. millions)||143.6||135.4||6.0||%|
|Occupancy exc. addition of rooms||62.9||%||60.6||%||2.3 pp|
|RevPar exc. addition of rooms||789.5||719.0||9.8||%|
The 9.8% increase in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of the 5.8% rate increase and the 2.3 percentage point occupancy level increase. The 6.0% increase in Room Revenue includes the 29 days for the month of February 2016; thus the comparable would have been a 9.8% increase for the comparable base of 28 days.
Total Sales for February 2017 were:
|MONTHLY TOTAL SALES|
|February 2017||February 2016||Change%|
|Number of hotels||42||40|
|Room Revenue (Ps. millions)||147.4||133.8||10.2||%|
Note: The Arriva Express Guadalajara hotel is excluded as it is temporarily closed due to its conversion to the AC by Marriott brand.
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 close due to its conversion to the AC by Marriott brand.
To date, Fibra Inn has a total portfolio of 43 properties in operation. This represents a total of 7,112 rooms, of which 6,891 are in operation, and 221 are currently under construction. 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 having properties operating under 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 ADR trades on the OTC market in the U.S. under the ticker symbol “DFBRY”.
For more information, please visit our 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.