Fibra Inn Announces Monthly Report of Hotel Indicators for March 2016 and First Quarter 2016
Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13, OTC:DFBRY) ("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 March and first quarter of 2016.
|MONTHLY SAME-STORE SALES|
|38 hotels||March 2016||March 2015||Change %|
|Room Revenue (Ps. millions)||140.1||118.1||18.6%|
|Occupancy exc. addition of rooms||65.2%||60.6%||4.6 pp|
|RevPar exc. addition of rooms||756.6||637.7||18.6%|
The 18.6% increase in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of:
a. A 10.3% ADR increase resulting from: (i) double-digit growth in hotel rates in 18 hotels of the Company's portfolio. This increase is driven by adequate management and implementation of hotel rates; and (ii) the positive impact of foreign exchange variations over rates negotiated in U.S. dollars, due to global brands.
b. Occupancy levels increased 4.6 percentage points, benefited by the economic activity in the northern and central regions of Mexico that continue to show signs of strength, despite the Easter holiday period falling in the month of March.
Total Sales for March 2016 were:
|MONTHLY TOTAL SALES|
|March 2016||March 2015||Change %|
|Number of hotels||40||31|
|Room Revenue (Ps. millions)||145.3||118.1||23.1%|
As a result of the above, the operating indicators of 1Q16 were as follows:
|QUARTERLY SAME-STORE SALES|
|38 hotels||1Q16||1Q15||Change %|
|Room Revenue (Ps. millions)||377.7||318.5||18.6%|
|Occupancy exc. addition of rooms||59.9%||56.3%||3.7 pp|
|RevPar exc. addition of rooms||702.7||592.6||18.6%|
|QUARTERLY TOTAL SALES|
Number of hotels
|Room Revenue (Ps. millions)||391.7||318.5||23.0%|
The same-store sales calculation considers 38 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 four hotels were excluded: two recently-built hotels that have no operational history, the Courtyard by Marriott Saltillo and the Fairfield Inn & Suites by Marriott Coatzacoalcos. Additionally, the Courtyard by Marriott Chihuahua and Casa Grande Ciudad Juarez hotels are excluded, as they are under a binding agreement.
As of the date of this report, Fibra Inn has a total portfolio of 42 properties: of which 40 hotels are in operation and two additional hotels are under a binding agreement. This represents a total of 7,027 rooms, 6,509 are in operation, 297 are under a binding agreement and 221 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 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 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.