Fibra Inn Announces Hotel Indicators for March 2019 and First Quarter 2019
Monterrey, Mexico, April 11, 2019 (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 March 2019.
| MONTHLY SAME-STORE SALES | ||||||
| 41 hotels | Mar 2019 | Mar 2018 | Change % | |||
| Room Revenue (Ps. millions) | 165.1 | 172.0 | -4.0% | |||
| Occupancy | 62.8% | 67.4% | -4.6 pp | |||
| ADR (Ps.) | 1,299.2 | 1,249.4 | 4.0% | |||
| RevPar (Ps.) | 816.0 | 841.9 | -3.1% | |||
The 4.0% decrease in Revenue per Available Room during March 2019 was due to a general economic deceleration throughout the entire country, where the following prevailed:
- The detained projects which await the ratification of the Free Trade Agreement, between Mexico, the United States and Canada, which has postponed investments and reduced the flow of business guests to the properties.
- The contraction of demand and increase of hotel supply, primarily in the markets of the Bajio region, Querétaro, Coatzacoalcos and Chihuahua.
- Safety issues in various zones of the country.
- Less contracting by government groups due to a delay in the federal government’s budget process.
The preceding factors drove a 4.6 percentage point decrease in occupancy, partly offset by a 4.0% rate increase, which combined for a total effect of -3.1% on RevPar.
Total Sales for March 2019 were:
| TOTAL MONTHLY SALES | ||||
| Mar 2019 | Mar 2018 | Change % | ||
| Number of hotels | 42 | 42 | ||
| Room Revenue (Ps. millions) | 169.0 | 173.7 | -2.7% | |
| Occupancy | 62.1% | 67.2% | -5.1 pp | |
| ADR (Ps.) | 1,305.7 | 1,236.7 | 5.6% | |
| RevPar | 810.6 | 830.4 | -2.4% | |
The first quarter of 2019 appears as follows:
| QUARTERLY SAME-STORE SALES | |||||
| 41 hotels | 1Q19 | 1Q18 | Change % | ||
| Room Revenue (Ps. millions) | 446.2 | 473.7 | -5.8% | ||
| Occupancy | 58.9% | 63.4% | -4.5 pp | ||
| ADR (Ps.) | 1,287.8 | 1,259.5 | 2.2% | ||
| RevPar (Ps.) | 759.1 | 798.7 | -5.0% | ||
| TOTAL QUARTERLY SALES | |||||
| 1Q19 | 1Q18 | Change % | |||
| Number of hotels | 42 | 42 | |||
| Room Revenue (Ps. millions) | 456.4 | 478.9 | -4.7% | ||
| Occupancy | 58.1% | 63.2% | -5.1 pp | ||
| ADR (Ps.) | 1,294.3 | 1,247.1 | 3.8% | ||
| RevPar | 752.2 | 788.7 | -4.6% | ||
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, it is important to consider that the calculation for the month of March excludes the Hotel Holiday Inn Ciudad Juarez, which remained closed for its brand conversion from September 1, 2017 to August 14, 2018.
Fibra Inn has a portfolio of 42 total properties with 6,786 rooms. 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 | |
