Fibra Inn Announces Monthly Report of Hotel Indicators for December 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 December 2015.
|MONTHLY SAME-STORE SALES|
|35 hotels||December 2015||December 2014||Change %|
|Room Revenue (Ps. millions)||97.4||84.3||15.6%|
|Occupancy exc. addition of rooms||51.6%||48.3%||3.2 pp|
|RevPar exc. addition of rooms||579.4||501.3||15.6%|
The 15.6% increase in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of:
An 8.3% ADR increase due to the optimization of rates as a result of the use of technological tools, operating efficiencies as well as some U.S. dollar-denominated rates. It is important to mention that 12 of the hotels in the Company's portfolio experienced double-digit ADR growth during the month of December.
Occupancy levels increased 2.0 percentage points. It is important to mention that traditionally, during the month of December, there is an expected decrease in occupancy due to the seasonality of the holiday season that results in a lower number of business travelers. However, this year, December occupancy rose compared to December 2014. The hotels located in the northern regions of the country continue to demonstrate the strongest performance.
Total Sales for December 2015 were:
|MONTHLY TOTAL SALES|
|December 2015||December 2014||Change %|
|Number of hotels||40||31|
|Room Revenue (Ps. millions)||106.6||78.8||35.3%|
As of the date of this report, Fibra Inn has a total portfolio of 41 properties: of which 40 hotels are in operation, and one is under development and under a binding agreement. This represents a total of 6,834 rooms, 323 of which are currently under construction. As of December 31, 2015, 45 rooms that were under construction were put in operation in the Microtel Inn & Suites by Wyndham Culiacán hotel.
The same-store sales calculation considers 35 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 report, a total of six hotels were excluded: three recently-built hotels that have no operational history, the Hampton Inn by Hilton Hermosillo, the Courtyard by Marriott Saltillo and the Fairfield Inn & Suites by Marriott Coatzacoalcos. In addition, three hotels were added during December: the Hampton Inn by Hilton Chihuahua, City Express Chihuahua and City Express Junior Chihuahua.
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 aimed at the business traveler. The Company has franchise agreements, licensing agreements and rights to brand usage with international hotel chains for the use of their global brands and has properties that operate with domestic 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" and its ADR trades under the ticker symbol "DFBRY" on the U.S. over-the-counter market.
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.