Fibra Inn Announces Monthly Report of Hotel Indicators for August 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 August 2016.
|MONTHLY SAME-STORE SALES|
|39 hotels||August 2016||August 2015||Change %|
|Room Revenue (Ps. millions)||138.6||118.1||17.3%|
|Occupancy exc. addition of rooms||63.4%||57.6%||5.9 pp|
|RevPar exc. addition of rooms||715.5||609.9||17.3%|
The 17.3% increase in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of:
|a.||An 6.5% ADR increase resulting from: (i) double-digit growth in the rates of 15 hotels in the Company's portfolio; this increase was driven by the proper management and implementation of hotel rates, and (ii) the foreign exchange rate benefit related to hotel rates in U.S. dollars, due to global brands.|
|b.||Occupancy levels increased by 5.9 percentage points, mainly in the hotels located in northern Mexican cities, primarily in Chihuahua and Hermosillo, where the strength of the manufacturing and industrial sectors continue to generate demand; as well as the properties located in Guadalajara and Toluca, which reflect positive results driven by the recently implemented commercial strategies.|
Total Sales for August 2016 were:
|MONTHLY TOTAL SALES|
|August 2016||August 2015||Change %|
|Number of hotels||42||35|
|Room Revenue (Ps. millions)||147.8||105.1||40.6%|
The same-store sales calculation considers 39 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, a total of four hotels were excluded. These were three recently built hotels that have no operational history: the Courtyard by Marriott Saltillo, the Fairfield Inn & Suites by Marriott Coatzacoalcos and the Courtyard by Marriott Chihuahua. Additionally the Best Western Valle Real was excluded, as it is under a binding agreement.
To date, Fibra Inn has a total portfolio of 43 properties; of which 42 hotels are in operation and one is under a binding agreement. This represents a total of 7,112 rooms, 6,806 are in operation, 85 are under a binding agreement and 221 are currently under construction. Additionally, Fibra Inn has a minority interest in one property, currently being externally developed, under the Strategic Hotel Acquisition Pipeline, representing 250 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.