MONTERREY, Mexico--(BUSINESS WIRE)--Deutsche Bank Mexico, S.A., Banking Institution, Trust Division F/1616 or Fibra Inn (BMV: FINN13) (“Fibra Inn” or “the Company”), a Mexican real estate investment trust specializing in the hotel industry serving the business traveler, announced the acquisition of the Hotel Holiday Inn Puebla La Noria. This is the sixth and last hotel to acquire of our Acquisition Portfolio.
The price for this hotel was Ps. 193.6 million, excluding taxes and acquisition expenses. This acquisition was paid in cash with the proceeds from the initial public offering that took place on March, 13 2013.
The Holiday Inn Puebla La Noria initiated operations in August 2006 and is a full-service hotel with 150 rooms. The Holiday Inn Puebla La Noria is located near the Mexico-Puebla highway as well as industrial parks, and commercial, financial and historical areas. It is situated in front of the Angelópolis shopping center, only 4 minutes far away from the Centro Cultural Siglo XXI, and is also conveniently close to cultural and recreational places, such as Iglesia de Santo Domingo, The Cholula Archeological area, the Parián Handcrafts Market, the Amparo Museum and the Conventions Center.
During 2012, the hotel’s occupancy rate was 83%; its average daily rate reached Ps. 907 and the RevPar was Ps. 749. This hotel will be operated by a third party, Hoteles y Centros Especializados, S.A., which is part of Grupo Presidente.
About the Company
Fibra Inn is a Mexican trust formed primarily to acquire, develop and rent a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra Inn has an Initial Portfolio of 14 high-quality hotels and geographically-diverse located in nine states throughout Mexico, comprising approximately 2,573 rooms. The Company has signed Franchise Agreements with IHG to operate its global brands Holiday Inn, Holiday Inn Express, and Holiday Inn Express & Suites; with Hilton to operate its brand Hampton Inn by Hilton; and is in the process with Marriott International and Wyndham Garden to operate its global brands. These hotels have some of the industry’s top loyalty programs and, offer attractive hotel options for businesses travelers. Fibra Inn recently listed its Real Estate Trust Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFIs”) on the Mexican Stock Exchange and trades under the ticker symbol “FINN13”.
For more information, please visit: http://fibrainn.mx/en/investors.php.
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.
