Market Overview

Fibra Inn Announces Hotel Indicators for March 2018 and First Quarter 2018


MONTERREY, Mexico, April 16, 2018 (GLOBE NEWSWIRE) -- Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13) (OTC:DFBRY) ("Fibra Inn" or "the Company"), an internally managed Mexican real estate investment trust specialized in the hotel industry serving the business traveler, today announced its operating results for its hotel indicators for March 2018.

41 hotels Mar-18   Mar-17   Change %  
Room Revenue (Ps. millions) 168.9   170.2   -0.8 %
Occupancy  67.4 % 67.8 % -0.4 pp  
ADR (Ps.)   1,231.4     1,233.8   -0.2 %
RevPar (Ps.) 829.6   836.0   -0.8 %

The 0.8% decrease in Revenue per Available Room reflects a lack of growth during the month due to:

  1. A 0.4 percentage point decrease in occupancy reflecting the Easter holiday effect, which took place in March, while for 2017 this took place in April; and
  2. The slight decrease of 0.2% in the average daily rate shows the adverse effect of the average exchange rate for March, which was -3.6%, offset by the proper management and implementation of hotel rates.

Excluding the Easter holiday effect, the room revenue in same-store sales would have showed an increase of 4.6% in March 2018 and 6.0% in the first quarter 2018, respectively.

Total Sales for March 2018 were:

  Mar-18   Mar-17   Change %  
Number of hotels 42   42    
Room Revenue (Ps. millions) 173.7   172.8   0.5 %
Occupancy 67.2 % 67.7 %  -0.5 pp  
ADR (Ps.)    1,236.7     1,226.6   0.8 %
RevPar   830.4     830.3   0.0 %

As a result of the above, operating indicators for 1Q18 were as follows:

41 hotels 1Q18   1Q17   Change %  
Room Revenue (Ps. millions) 469.1   451.4   3.9 %
Occupancy  63.7 % 60.4 % 3.3 pp  
ADR (Ps.)   1,245.4     1,263.5   -1.4 %
RevPar (Ps.) 793.6   763.6   3.9 %

  1Q18   1Q17   Change %  
Number of hotels 42   42    
Room Revenue (Ps. millions) 478.9   458.2   4.5 %
Occupancy 63.2 % 59.9 %  3.3 pp  
ADR (Ps.)   1,247.1     1,254.7   -0.6 %
RevPar   788.7     752.0   4.9 %

The same-store sales calculation considers all of the hotels which have been in Fibra Inn's portfolio for at least half of the period under discussion. In this case, it is important to consider that the Casa Grande Ciudad Juarez hotel has been closed since September 2017 due to its 51-room expansion and conversion to the Holiday Inn brand. Additionally, the AC Hotels by Marriott Guadalajara remained closed during March 2017 during its band conversion.

Fibra Inn has a portfolio of 43 total properties, with 6,944 rooms; out of which 6,748 are in operation, 145 are under a rebranding process and 51 are in the expansion process. Furthermore, Fibra Inn has a minority interest in three properties, currently being externally developed under the Strategic Hotel Acquisition Pipeline model, representing 633 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 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 ADRs trade on the OTC market in the U.S. under the ticker symbol "DFBRY".

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.

In Monterrey, Mexico:
Lizette Chang, IRO
Fibra Inn
Tel: 52 1 (81)1778-5926

In New York:
Maria Barona
i-advize Corporate Communications, Inc.
Tel: (212) 406-3691

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