Fibra Inn Announces Consolidated Results for the Second Quarter 2016

MONTERREY, Mexico--(BUSINESS WIRE)-- Deutsche Bank Mexico, S.A., Institución de Banca Múltiple, Trust Division F/1616 or Fibra Inn (BMV: FINN13) (“Fibra Inn” or “the Company”), the Mexican real estate investment trust specializing in the hotel industry serving the business traveler with global brands, today announced its non-audited second quarter results for the period ended June 30, 2016 (“2Q16”). These results were prepared in accordance with International Financial Reporting Standards (“IFRS”) and are stated in nominal Mexican pesos (Ps.).

2Q16 Financial Highlights:

• Fibra Inn concluded the quarter with 41 hotels under operation and one binding agreement, with 7,027 rooms, of which 221 are under construction and 152 are in the acquisition process.
• Total Revenue: reached Ps. 441.4 million, of which 94.9% were from room revenues and 5.1% were from rental revenue, for a total increase of 42.3% compared to 2Q16.
• NOI (1): Ps. 167.6 million, an increase of 43.9% compared to the Ps. 116.5 million reported in 2Q15; NOI margin was 38.0%, the third-highest in Fibra Inn’s history.
• Adjusted EBITDA (2): Ps. 144.0 million, a 50.5% increase compared to the Ps. 95.7 million in 2Q15.
• Net Income: Ps. 48.8 million or 11.1% net margin, a 23.5% increase compared with 2Q15.
• FFO (3): Ps. 109.5 million, an 8.4% increase compared to the Ps. 101.0 million reported in 2Q15.
• Distributions to Holders (4): Ps. 99.3 million, a 12.4% increase compared to Ps. 88.3 million in 2Q15. Distribution is equivalent to Ps 0.2256 per CBFI. This represents an annualized dividend yield of 6.7% at 2Q16, the highest in the Company’s history and is 130 basis points (“bps”) higher than the 2Q15 figure. The dividend yield is 7.3% with today´s closing price of Ps. 12.37.

Same-Store Sales for the 39 comparable hotels:

• Room revenues: Ps. 398.8 million; an increase of 19.1% vs. Ps. 335.0 million in 2Q15.
• Occupancy: 62.8%, 5.9 pp higher than the figure reported in 2Q15. Excluding the addition of rooms, occupancy was 64.1%; the highest reported during any quarter.
• Average Daily Rate (“ADR”): reached Ps. 1,119.0; an increase of 5.8%.
• Revenue per Available Room (“RevPAR”): Ps. 702.6, a 16.7% increase. Excluding the addition of rooms, this was record amount of Ps. 716.8, an increase of 19.1%.

Total Revenues for the 41 hotels in operation:

• Rental revenues: Ps. 418.0 million; an increase of 43.4% vs. Ps. 291.4 million in 2Q15.
• Occupancy: 61.6%; 4.1 pp higher versus the 57.5% in 2Q15.
• Average Daily Rate: Ps. 1,129.9; an increase of 4.8%.
• Revenue per Available Room: Ps. 696.3, a 12.3% increased vs. Ps. 620.0 in 2Q15.

Oscar Calvillo, Chief Executive Officer of Fibra Inn, stated: “The hotel indicator figures continue to demonstrate the operating strength of the properties, with record amounts throughout various line items, which undoubtedly positions us as the leader in efficiency for the hotel sector. This is the result of the implementation of commercial and marketing activities with key accounts for Fibra Inn. With respect to hotel acquisitions, we continue to carefully look into new opportunities as we develop a future pipeline of hotels under the external development model via strategic alliances with third-party investors.”

For the full version of this report, please visit http:/www.fibrainn.mx/en/financial-information.php

View source version on businesswire.com: http://www.businesswire.com/news/home/20160728006713/en/

In Monterrey, Mexico:
Fibra Inn
Lizette Chang, IRO, 52 1 (81)1778-5926
[email protected]
or
In New York:
i-advize Corporate Communications, Inc.
Maria Barona / Juan Carlos Gomez Stolk, 212-406-3691
mbarona@i‐advize.com / [email protected]
Twitter: @fibrainn

Source: Fibra Inn

You May Also Be Interested In

• Midday movers: Tesla, Blackstone, Las Vegas Sands fall; DR Horton rises
• Embraer backlog reached the highest level over past 7 years and deliveries increased 67% in 1Q24
• Stockholder Alert: Robbins LLP Informs Investors of the Class Action Filed Against Sharecare, Inc. (SHCR)