Fibra Inn Announces Monthly Report of Hotel Indicators for October 2015
Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV: FINN13) ("Fibra Inn" or "the Company"), the Mexican real estate investment trust specializing in the hotel industry serving the business traveler with global brands, today announced its operating results for its hotel indicators as of October 2015.
|MONTHLY SAME-STORE SALES|
|34 hotels||October 2015||October 2014||Change %|
|Room Revenue (Ps. millions)||116.2||102.7||13.2%|
|Occupancy exc. addition of rooms||62.0%||62.5%||-0.5 pp|
|RevPar exc. addition of rooms||691.6||610.7||13.2%|
The 13.2% growth in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of:
a. An ADR increase of 14.2% resulting from the optimization of Revenue Maximization technological tools used in the implementation of hotel operating processes. It is important to mention that 19 of the hotels in the Company's portfolio experienced double-digit ADR growth during October.
b. Occupancy levels remained almost flat, presenting a slight decrease of 0.5 percentage points. It is important to mention that the hotels located in the western and northern parts of the country are the ones with a best performance, mainly in the cities of Chihuahua, Reynosa, Saltillo, Ciudad Juarez, Guadalajara and Puebla.
Total Sales for October 2015 were:
|MONTHLY TOTAL SALES|
|October 2015||October 2014||Change %|
|Number of hotels||35||23|
|Room Revenue (Ps. millions)||118.5||80.2||47.7%|
Fibra Inn has a total portfolio of 37 properties: 36 hotels in operation, plus one under development with a total of 6,283 rooms; 396 of these are currently under construction and includes 45 rooms of the Microtel Inn & Suites by Wyndham hotel.
The same-store sales calculation considers 34 comparable properties, as the criterion is to include hotels which have been in Fibra Inn's portfolio for at least half of the quarter. In this case, the Courtyard by Marriott Saltillo and the Hampton Inn by Hilton Hermosillo hotels were excluded, as they were recently-built and have no operational history.
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, Crowne Plaza and Staybridge Suites; with Wyndham Hotel Group to operate its global brands Wyndham Garden and Microtel Inn & Suites by Wyndham; with Marriott International to operate Marriott and Courtyard by Marriott. 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, Casa Grande and Arriva Express. 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 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.