Hotel Development Mexico

Holiday Inn Tampico Altamira Sold to Fibra Inn

The agreed price was Ps. 102.5 million, with an additional Ps. 6.1 million in taxes and acquisition expenses, and Ps. 2.2 million in working capital. This hotel has a cap rate of 10%.

Fibra Inn

Deutsche Bank Mexico, S.A., Banking Institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13), a Mexican real estate investment trust specializing in the hotel industry serving the business traveler, announced that it has signed a binding agreement for the acquisition of the Hotel Holiday Inn Tampico Altamira, in the State of Tamaulipas.

The agreed price was Ps. 102.5 million, with an additional Ps. 6.1 million in taxes and acquisition expenses, and Ps. 2.2 million in working capital. This hotel has a cap rate of 10%. Expected additional expenses include:




An expansion of 105 rooms, for which Ps. 82.6 million are allocated; and,


The purchase of an adjacent 3,823 m2 lot for Ps. 10.5 million, which, in the short term will be rented as a restaurant and in the medium term will be used for the development of a limited service or extended stay hotel.


Holiday Inn Tampico AltamiraFibra Inn obtained physical possession of the hotel on March 27th, integrating its operation into its portfolio. The payment and registration of the deed are expected to be completed in May 2014. The amount will be paid using the resources from the credit line that is at the final stage of negotiation.

This hotel is Fibra Inn’s second property located on the Gulf of Mexico coast, where significant demand for rooms is anticipated due to the energy and petrochemical industries. The property has 98 rooms and the expansion is expected to be completed by the first quarter of 2015. This hotel operates in the full service segment and will be under the management of Fibra Inn’s Hotel Manager.

Fibra Inn opted to acquire this hotel for the following reasons:

  • This market is considered to form part of a corridor that is comprised of cities with important oil activity, which is expected to increase as a result of the Energy Reforms.
  • The hotel is strategically situated for serving companies with activity in the Altamira port. The main employment-generating companies are Weatherford, Halliburton, Vopat, Dupont, Nhumo, Dyanosol, ICA, Pemex, Coca-Cola Femsa, Mexichem, Iberdrola and Posco.
  • The negotiation between the government of the state of Tamaulipas and the company Keppel Offshore and Marine resulted in an investment for the construction of the first primer offshore drilling shipyard to build jackup drilling rigs in the area for a total value of US$ 400 million, which will generate approximately 4,000 direct jobs. Currently, there is a lack of hotel offerings and most of the hotels are either local or independent hotels.

The Hotel Holiday Inn Tampico Altamira is located at Km 16 of the Tampico – Mante road, in the municipality of Altamira, C.P. 89609. It is 5 minutes from the most important industrial zone in the southern part of the state and northern Veracruz and 10 minutes from the Francisco Javier Mina International Airport. With this acquisition, Fibra Inn has a portfolio of 22 hotels under operation, plus 2 under development for a total of 4,321 rooms, of which 769 are under construction.

Fibra Inn is a Mexican trust formed primarily to acquire, own, develop, operate and rent a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra Inn has a portfolio of high-quality hotels and geographically-diverse located in thirteen states throughout Mexico, comprising approximately 4,321 rooms, which 769 are under construction. 

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