Fibra Inn Announces Consolidated Results for the Second Quarter 2013

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Updated

Fibra Inn Announces Consolidated Results for the Second Quarter 2013

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"), a Mexican real estate investment trust specializing in the hotel industry serving the business traveler, today announced its Second Quarter results for the period ended June 30, 2013 ("2Q13"). These results were prepared in accordance with International Financial Reporting Standards ("IFRS") and are stated in nominal Mexican pesos (Ps.).

Fibra Inn has made several hotel acquisitions during the quarter. The properties are considered as contributed to the Fibra upon their notarization and payment; therefore, all financial information contained in this report for the second quarter of 2013 refers to the operating period in which those hotels became part of the Fibra. As of the end of the quarter, Fibra Inn owned 13 out of the 14 hotels that comprise the Initial Portfolio.


Second Quarter 2013 Financial Highlights

  • The average daily rate (ADR) was Ps. 960.4, the occupancy rate was 64.5% and revenue per available room was Ps. 619.3 during the second quarter of 2013, accounting the acquired hotels only during the effective days that were part of the portfolio of the Fibra, plus the eight hotels of the contribution portfolio.

  • The average daily rate (ADR) was Ps. 962.5, the occupancy rate reached 61.7% and revenue per available room was Ps. 593.8 during the second quarter of 2013.

  • Total Revenues werePs. 47.3 million.

  • Rental Revenues were Ps. 40.9 million.

  • Net Operating Income ("NOI") was Ps. 42.7 million, representing a 39.0% margin over hotel revenues.

  • Fibra Inn agreed to pay a Distribution to Holders of Ps. 53.3 million on August 20, 2013, which is Ps. 0.2063 per CBFI and represents an annual dividend yield of 4.33% based on the market cap at a price of Ps.19.07 per CBFI.

  • Book Value as of June 30, 2013, for the 13 properties reached Ps. 2,621.2 million.

CEO Statement

Mr. Víctor Zorrilla, stated: "During the second quarter, we acquired five out of the six hotels of our Acquisition Portfolio and we just announced the sixth acquisiton the day before yesterday. We have begun the process to add the IHG, Marriott and Wyndham brands to the portfolio of the Fibra and we will continue to seek to operate internationally-recognized brands. We are being very cautious in selecting hotels for acquisition, because we want to ensure that they have the efficiency levels that will enable us to maintain the profitability of the Fibra. During this quarter, we will pay a distribution of Ps. 53.3 million, which is a 4.3% dividend yield, and we still have Ps. 1,589.7 million in cash, from the public offering."

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



For more information please visithttp://fibrainn.mx/en/investors.phpor contact:
In Monterrey, Mexico:
Fibra Inn
Lizette Chang, IRO
52 1 (81)1778-5926
lchang@fibrainn.mx
or
In New York:
i‐advize Corporate Communications, Inc.
Maria Barona / Melanie Carpenter
212-406-3691/92
mbarona@i-advize.com/mcarpenter@i-advize.com

KEYWORDS: United States Mexico North America Central America New York

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