Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13) (OTC:DFBRY), the Mexican real estate investment trust, last week announced its operating results for its hotel indicators as of October 2016.
|MONTHLY SAME-STORE SALES|
|39 hotels||October 2016||October 2015||Change %|
|Room Revenue (Ps. millions)||145.3||130.5||11.4%|
|Occupancy exc. addition of rooms||64.9%||61.0%||3.9 pp|
|RevPar exc. addition of rooms||750.0||673.4||11.4%|
The 11.4% increase in Revenue per Available Room (RevPar excluding the addition of rooms) was the net effect of the 4.8% rate increase and the 3.9 percentage point occupancy level increase that was driven by the strength of the industrial sector in northern Mexico as well as in other central cities such as Guadalajara, Toluca and the hotels in the Bajio region.
Total Sales for October 2016 were:
|MONTHLY TOTAL SALES|
|October 2016||October 2015||Change %|
|Number of hotels||43||35|
|Room Revenue (Ps. millions)||157.7||118.5||33.1%|
The same-store sales calculation considers 39 comparable properties, as the criterion is to include hotels, which have been in Fibra Inn’s portfolio for at least half of the period. In this report, a total of four hotels were excluded. These were three recently built hotels that have no operational history: The Courtyard by Marriott Saltillo, the Fairfield Inn & Suites by Marriott Coatzacoalcos, the Courtyard by Marriott Chihuahua, and the Best Western Valle Real was excluded, as it is a recently acquired hotel.
To date, Fibra Inn has a total portfolio of 43 properties in operation. This represents a total of 7,112 rooms, 6,891 are in operation, and 221 are currently under construction. Additionally, Fibra Inn has a minority interest in one property, currently being externally developed under the Hotel Factory model, representing 250 rooms.
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