Fibra Inn Announces Monthly Report of Hotel Indicators for November 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 November 2015.
|MONTHLY SAME-STORE SALES|
|34 hotels||November 2015||November 2014||Change %|
|Room Revenue (Ps. millions)||117.7||101.7||15.7%|
|Occupancy exc. addition of rooms||64.6%||61.6%||2.9 pp|
|RevPar exc. addition of rooms||723.3||625.3||15.7%|
The 15.7% growth in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of:
The 10.4% of ADR increase was due to the optimization of rates from the use of technological tools, operating efficiencies as well as some rates related to the U.S. dollar. It is important to mention that 18 of the hotels in the Company's portfolio experienced double-digit ADR growth during November.
Occupancy levels increased 2.9 percentage points. It is important to mention that the hotels located in the western and northern parts of the country continued to demonstrate the strongest performance. In addition, certain specific locations in central Mexico experienced occupancy increases due to seasonal events, conventions and recreational tourism; specifically in Guadalajara, Irapuato, Silao and Puebla.
Total Sales for November 2015 were:
|MONTHLY TOTAL SALES|
|November 2015||November 2014||Change %|
|Number of hotels||36||25|
|Room Revenue (Ps. millions)||120.6||82.1||47.0%|
Fibra Inn has a total portfolio of 41 properties: 36 hotels in operation, three under binding agreement, plus two under development with a total of 6,834 rooms; 548 of these are currently under construction.
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 Hampton Inn by Hilton Hermosillo and Courtyard by Marriott Saltillo hotels were excluded, as they were recently-built and have no operational history. In addition, three hotels under binding agreement were excluded: 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 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 its brands Marriott, Fairfield inn & Suites by 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 such as Camino Real, City Express, City Express Junior, Casa Grande and Arriva Express. Additionally, Fibra Inn has agreements with IHG, Marriott International, Wyndham Hotel Group and Hoteles City Express for the development of properties. These hotels enjoy some of the industry's top loyalty programs. Fibra Inn has 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.