Deutsche Bank Mexico, S.A., Banking Institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13), a Mexican real estate investment trust specializing in the hotel industry serving the business traveler, announced today that it completed the construction of additional rooms at two of its properties.
At the Holiday Inn Express Guadalajara Autonoma hotel, Ps. 80.3 million was invested in the construction of 99 additional rooms, following the acquisition of this property on May 20, 2013. These new rooms were put into operation on June 2, 2014.
At the Holiday Inn Express Playa del Carmen hotel, Ps. 38.5 million was invested in the addition of 51 rooms which became operational on April 1, 2014. This hotel was acquired on May 24, 2013.
Fibra Inn has another 259 rooms currently under construction at the Camino Real Guanajuato, Marriott Puebla and Holiday Inn Altamira hotels. This is in addition to the 540 rooms that will be added with the development of three hotels.
Fibra Inn is a Mexican trust formed primarily to acquire, own, develop, operate and rent a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra Inn has a portfolio of high-quality hotels and geographically diverse located in 13 states throughout Mexico, comprised of 23 hotels and 3 under development.
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 Starwood Hotels & Resorts Worldwide to operate the brand Aloft.
Additionally, Fibra Inn has agreements with IHG, Marriott International and Wyndham Hotel Group. These hotels enjoy 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”.
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