MONTERREY, México, Oct. 12, 2017 (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 business traveler, today announced its operating results for its hotel indicators for the month of September 2017 and the third quarter of the year.
| MONTHLY SAME-STORE SALES | ||||||
| 41 hotels | Sep 2017 | Sep 2016 | Change % | |||
| Room Revenue (Ps. millions) | 138.4 | 140.7 | -1.6 | % | ||
| Occupancy exc. addition of rooms | 59.3 | % | 62.1 | % | -2.8 pp | |
| Occupancy | 59.2 | % | 62.1 | % | -2.9 pp | |
| ADR (Ps.) | 1,192.6 | 1,158.2 | 3.0 | % | ||
| RevPar exc. addition of rooms | 707.6 | 719.4 | -1.6 | % | ||
| RevPar (Ps.) | 706.0 | 719.4 | -1.9 | % | ||
The 1.6% decline in Revenue per Available Room was due to the net effect of the 3.0% average daily rate increase and the 2.8 percentage-point decline in occupancy. This decline was due to decelerations in some of the locations, the unusual number of cancellations, and therefore the lower number of guests due to recent meteorological phenomena:
- Hurricane Harvey, which affected Texas and the coastal region of the Gulf of Mexico. The most significant impact of this meteorological phenomenon was the closing of the Houston International Airport (IAH), which has among the highest connectivity of flights to all of Mexico, as well as the fact that residents in that area also cancelled their trips.
- Earthquakes in the central and southern regions of the country, thereby affecting the Holiday Inn Coyoacán hotel; as well as the cancelation of trips by local residents to other locations as well as travelers from other cities who had trips planned to the areas affected by the earthquake.
- Hurricane Irma affected Florida and the Gulf of Mexico, which resulted in the cancellation of flights to the Atlanta International Airport and to all Florida airports, as well as the change of scheduled trips by residents in this region
Total Sales for September 2017 were:
| MONTHLY TOTAL SALES | ||||||
| Sep 2017 | Sep 2016 | Change % | ||||
| Number of hotels | 42 | 42 | ||||
| Room Revenue (Ps. millions) | 141.4 | 146.2 | -3.3 | % | ||
| Occupancy | 59.3 | % | 62.4 | % | -3 pp | |
| ADR (Ps.) | 1,191.4 | 1,150.3 | 3.6 | % | ||
| RevPar | 706.9 | 717.2 | -1.4 | % | ||
As a result of the aforementioned, operating indicators for the third quarter of 2017 were as follows:
| QUARTERLY SAME-STORE SALES | ||||||
| 43 hotels | 3Q17 | 3Q16 | Change % | |||
| Room Revenue (Ps. millions) | 458.7 | 446.3 | 2.8 | % | ||
| Occupancy exc. addition of rooms | 62.0 | % | 62.6 | % | -0.5 pp | |
| Occupancy | 61.9 | % | 62.6 | % | -0.6 pp | |
| ADR (Ps.) | 1,188.4 | 1,147.2 | 3.6 | % | ||
| RevPar exc. addition of rooms | 737.4 | 717.6 | 2.8 | % | ||
| RevPar (Ps.) | 735.8 | 717.6 | 2.5 | % | ||
| QUARTERLY TOTAL SALES | ||||||
| 3Q17 | 3Q16 | Change % | ||||
| Number of hotels | 43 | 42 | ||||
| Room Revenue (Ps. millions) | 461.7 | 448.5 | 2.9 | % | ||
| Occupancy | 61.9 | % | 62.6 | % | -0.6 pp | |
| ADR (Ps.) | 1,188.1 | 1,146.9 | 3.6 | % | ||
| RevPar | 735.9 | 717.6 | 2.6 | % | ||
The same-store sales calculation considers all of the hotels which have been in Fibra Inn’s portfolio for at least half of the period. In this case, it is important to consider that two hotels are excluded from the September calculation. These are the Casa Grande Ciudad Juárez, which will remain closed beginning in September due to its expansion and conversion to the Holiday Inn brand; and the Holiday Inn México Coyoacán, which temporarily interrupted operations as a result of the earthquake this past September 19 and has, at this time, already re-initiated operations.
Fibra Inn has a portfolio of 43 total properties, with 7,115 rooms. Additionally, Fibra Inn has a minority interest in two properties, currently being externally developed under the Strategic Hotel Acquisition Pipeline model, representing 430 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 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 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.
Contacts:
In Monterrey, Mexico: Lizette Chang, IRO Fibra Inn Tel: 52 1 (81)1778-5926 Email: lchang@fibrainn.mx
In New York: Maria Barona i-advize Corporate Communications, Inc. Tel: (212) 406-3691 Email: mbarona@i-advize.com Twitter: @fibrainn.mx
