Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13, OTC:DFBRY) yesterday announced its operating results for its hotel indicators for April 2016.
|MONTHLY SAME-STORE SALES|
|38 hotels||April 2016||April 2015||Change||%|
|Room Revenue (Ps. millions)||132.3||109.7||20.6||%|
|Occupancy exc. addition of rooms||65.1||%||57.6||%||7.5 pp|
|RevPar exc. addition of rooms||738.3||611.9||20.6||%|
The 20.6% increase in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of:
a. Occupancy levels increased 7.5 percentage points, benefited by the continued strong economic activity in the northern and central regions of Mexico, as well as the better comparison versus 2015 since the Easter holiday period last year took place in April.
b. The 6.7% ADR increase resulting from: (i) double-digit growth in hotel rates in 11 hotels of the Company’s portfolio as a result of the use of technological tools for the implementation of hotel rates; and (ii) the positive impact of foreign exchange variations over rates negotiated in U.S. dollars, due to global brands.
Total Sales for April 2016 were:
|MONTHLY TOTAL SALES|
|April 2016||April 2015||Change||%|
|Number of hotels||41||31|
|Room Revenue (Ps. millions)||138.4||94.3||46.8||%|
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. These include 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 41 hotels are in operation and one additional hotel is under a binding agreement. This represents a total of 7,027 rooms, of which 6,654 rooms are in operation, 152 are under a binding agreement and 221 are 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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