MONTERREY, Mexico, Sept. 12, 2018 (GLOBE NEWSWIRE) -- Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV: FINN13, ADR/OTC: DFBRY) (“Fibra Inn” or “the Company”), an internally-managed Mexican real estate investment trust specialized in the hotel industry serving the traveler with international brands, today announced its operating results for its hotel indicators for August 2018.
| MONTHLY SAME-STORE SALES | ||||||||
| 43 hotels | Aug 2018 | Aug 2017 | Change % | |||||
| Room Revenue (Ps. millions) | 164.9 | 158.6 | 4.0 | % | ||||
| Occupancy | 62.8 | % | 62.3 | % | 0.6 pp | |||
| ADR (Ps.) | 1,234.3 | 1,192.3 | 3.5 | % | ||||
| RevPar (Ps.) | 775.3 | 742.3 | 4.4 | % | ||||
The 4.0% increase in Revenue per Available Room was due to:
- An occupancy increase of 60 basis points to reach 62.8%, in line with the Company’s estimates.
- The slight increase of 3.5% in the average daily rate was due to the implementation of the Company’s volume strategy to sustain occupancy levels within a market experiencing moderate growth.
Total Sales for August 2018 were:
| TOTAL MONTHLY SALES | ||||||||
| Aug 2018 | Aug 2017 | Change % | ||||||
| Number of hotels | 43 | 43 | ||||||
| Room Revenue (Ps. millions) | 164.9 | 158.6 | 4.0 | % | ||||
| Occupancy | 62.8 | % | 62.3 | % | 0.5 pp | |||
| ADR (Ps.) | 1,234.3 | 1,192.3 | 3.5 | % | ||||
| RevPar | 775.2 | 742.3 | 4.4 | % | ||||
The same-store sales calculation includes all the hotels that have been in Fibra Inn’s portfolio for at least half of the period under discussion. In this case, the Holiday Inn Ciudad Juárez hotel is included, which began operations during this month after its remodeling and room expansion; as well as the Microtel Inn & Suites by Wyndham Culiacán, which was sold at the end of August.
To date, Fibra Inn has a portfolio of 42 total properties, with 6,786 rooms in operation. Additionally, Fibra Inn has a minority interest in three properties, currently being externally developed under the Strategic Hotel Acquisition Pipeline model, representing 633 rooms.
About the Company
Fibra Inn is a Mexican trust formed primarily to acquire, develop and rent a broad range of hotel properties in Mexico for the business and leisure 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. 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 ADRs trade on the OTC market in the U.S. under the ticker symbol “DFBRY”.
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
In Mexico:
Lizette Chang, IRO
Fibra Inn
Tel. 52-1-81-1778-5926
lchang@fibrainn.mx
In New York:
Maria Barona / Melanie Carpenter
i-advize Corporate Communications
Tel. (212) 406-3691
mbarona@i-advize.com