Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13, OTC:DFBRY), 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.
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”.
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