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 February 2016.
|MONTHLY SAME-STORE SALES|
|February 2015||Change %|
|Room Revenue (Ps. millions)||129.2||105.2||22.8%|
|Occupancy exc. addition of rooms||65.0%||59.4%||5.6 pp|
|RevPar exc. addition of rooms||772.4||628.8||22.8%|
The 22.8% increase in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of:
a. A 12.3% ADR increase resulting from double-digit growth in hotel rates in over half of the Company’s portfolio. This increase is partly driven by sales strategies implemented to optimize rates, as well as to a percentage of rates that are negotiated in U.S. dollars, due to global brands.
b. Occupancy levels increased 5.6 percentage points, mainly impacted by the economic activity of Chihuahua and Guadalajara, among others. Furthermore, some hotels in the portfolio are showing signs of stabilization following the addition of rooms and renovation of common areas; particularly, the hotels in Toluca and Tampico.
Total Sales for February 2016 were:
|MONTHLY TOTAL SALES|
|February 2016||February 2015||Change %|
|Number of hotels||40||31|
|Room Revenue (Ps. millions)||133.8||105.2||27.2%|
As of the date of this report, Fibra Inn has a total portfolio of 42 properties: of which 40 hotels are in operation, one is under development and one additional hotel is in development under a binding agreement. This represents a total of 7,082 rooms, 573 of which are currently under construction.
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 three 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 is excluded, as it is under a binding agreement.
About the Company
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”.
Logos, product and company names mentioned are the property of their respective owners.