Fibra Inn Announces Its Hotel Indicators for September and Third Quarter 2018
MONTERREY, Mexico, Oct. 16, 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 September and third quarter 2018.
| MONTHLY SAME-STORE SALES | ||||||
| 41 hotels | Sep 2018 | Sep 2017 | Change % | |||
| Room Revenue (Ps. millions) | 155.6 | 139.9 | 11.2 | % | ||
| Occupancy | 62.4 | % | 58.7 | % | 3.8 pp | |
| ADR (Ps.) | 1,261.1 | 1,206.4 | 4.5 | % | ||
| RevPar (Ps.) | 787.2 | 707.7 | 11.2 | % | ||
The 11.2% increase in Revenue per Available Room was due to:
- An increase in occupancy of 3.8 percentage points, which reflected the inclusion of the results of the Holiday Inn México Coyoacan Hotel, which closed last year due to the Mexico City earthquake.
- A 4.5% increase in the average daily rate, reflecting the actions taken by the hotels operators to reinforce the average daily rate of the portfolio, such as improving hotel visibility on internet sites and implementing better sales strategies and promotions.
Total Sales for September 2018 were:
| TOTAL MONTHLY SALES | ||||||
| Sep 2018 | Sep 2017 | Change % | ||||
| Number of hotels | 42 | 42 | ||||
| Room Revenue (Ps. millions) | 157.2 | 141.4 | 11.2 | % | ||
| Occupancy | 59.7 | % | 59.3 | % | 0.4 pp | |
| ADR (Ps.) | 1,264.8 | 1,191.4 | 6.2 | % | ||
| RevPar | 755.0 | 706.9 | 6.8 | % | ||
As a result of the above, operating indicators for 3Q17 were as follows:
| QUARTERLY SAME-STORE SALES | ||||||
| 42 hotels | 3Q18 | 3Q17 | Change % | |||
| Room Revenue (Ps. millions) | 490.8 | 454.7 | 7.9 | % | ||
| Occupancy | 64.2 | % | 61.8 | % | 2.4 pp | |
| ADR (Ps.) | 1,243.4 | 1,197.0 | 3.9 | % | ||
| RevPar (Ps.) | 798.8 | 740.1 | 7.9 | % | ||
| TOTAL QUARTERLY SALES | ||||||
| 3Q18 | 3Q17 | Change % | ||||
| Number of hotels | 43 | 43 | ||||
| Room Revenue (Ps. millions) | 494.1 | 461.7 | 7.0 | % | ||
| Occupancy | 63.0 | % | 61.9 | % | 1.1 pp | |
| ADR (Ps.) | 1,244.4 | 1,188.1 | 4.7 | % | ||
| RevPar | 784.2 | 735.9 | 6.6 | % | ||
The same-store sales calculation included all the hotels that have been in Fibra Inn’s portfolio for at least half of the period under discussion. In this case, it is important to consider that the calculation for the month of September excluded two hotels: (i) the Casa Grande Ciudad Juarez Hotel, which remained closed from September 1, 2017 to August 14, 2018 due to its conversion to the Holiday Inn brand; and (ii) the Microtel Inn & Suites by Wyndham Culiacan, which was sold on August 27, 2018.
Fibra Inn has a portfolio of 42 total properties, with 6,786 rooms in operation. Additionally, Fibra Inn has a minority interest in four properties, currently being externally developed under the Hotel Factory 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: | In New York: |
| Lizette Chang, IRO | Maria Barona / Melanie Carpenter |
| Fibra Inn | i-advize Corporate Communications |
| Tel. 52-1-81-1778-5926 | Tel. (212)406-3691 |
| lchang@fibrainn.mx | mbarona@i-advize.com |
