Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13, OTC:DFBRY), the Mexican real estate investment trust, yesterday announced its operating results for its hotel indicators as of November 2016.
|MONTHLY SAME-STORE SALES|
|November 2015||Change %|
|Room Revenue (Ps. millions)||152.5||127.9||19.3%|
|Occupancy exc. addition of rooms||66.5%||59.0%||7.5 pp|
|RevPar exc. addition of rooms||790.7||663.0||19.3%|
The 19.3% increase in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of the 5.8% rate increase and the 7.5 percentage point occupancy level increase that was driven by the strength of the industrial sector in northern Mexico as well as in other central cities such as Guadalajara, Toluca and the hotels in the Bajio region.
Total Sales for November 2016 were:
The same-store sales calculation considers 40 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 three hotels were excluded. These were two recently built hotels that have no operational history: The Fairfield Inn & Suites by Marriott Coatzacoalcos, the Courtyard by Marriott Chihuahua, and the Best Western Valle Real, which is a recently acquired hotel.
To date, Fibra Inn has a total portfolio of 43 properties in operation. This represents a total of 7,112 rooms, 6,891 are in operation, and 221 are currently under construction. Additionally, Fibra Inn has a minority interest in two properties, currently being externally developed under the Strategic Hotel Acquisition Pipeline model, representing 430 rooms.
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”.
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