Fibra Inn Announces Results for the First Quarter of 2018

MONTERREY, Mexico, April 26, 2018 -- 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 internally managed and specialized in the hotel industry serving the business traveler with global brands, today announced its non-audited first quarter results for the period ended March 31, 2018 (1Q18). These results were prepared in accordance with International Financial Reporting Standards (IFRS) and are stated in nominal Mexican pesos (Ps.).     

1Q18 Financial Highlights:

• Fibra Inn concluded the quarter with 42 hotels in operation plus one property in the expansion process. This represents a total of 6,944 rooms, 145 of which are undergoing brand conversions and 51 are under expansion. Fibra Inn is invested in 3 properties, under the Hotel Factory model, that will add 633 rooms.
• Total Revenue: Ps. 500.9 million, of which 95.6% were from room revenues and 4.4% were from other rental revenues, for a total increase of 4.3% compared to 1Q17.
• Hotel NOI¹: Ps. 180.2 million, a 3.3% increase compared with the Ps. 174.4 million reported in 1Q17; NOI margin was 36.0%.
• Adjusted EBITDA²: reached Ps. 154.4 million, a 0.3% increase compared to the Ps. 154.1 million in 1Q17.
• FFO³: Ps. 117.7 million, a 5.1% increase compared with the Ps. 112.0 million reported in 1Q17; the FFO margin was 23.5%.
• Distributions to Holders⁴: Ps. 109.1 million for the 436,203,575 CBFIs outstanding. Distribution per CBFI was Ps. 0.2500, representing an 8.4% annualized dividend yield for the quarter.

Same-Store Sales for 1Q18 for the 41 comparable hotels⁵:

• Room revenue: Ps. 469.1 million; an increase of 3.9% vs 1Q17.
• Occupancy: 63.7%, an increase of 3.3 percentage points (pp) and an Average Daily Rate (ADR) of Ps. 1,245.4, a decline of 1.4%.
• Revenue per Available Room (“RevPAR”): was Ps. 793.6, a 3.9% increase.

Total Revenues for 1Q18 for the 42 hotels in operation:

 ·Room revenues: Ps. 478.9 million; an increase of 4.5% compared to 1Q17.
 ·Occupancy: 63.2%; an increase of 3.3 pp versus 1Q17.
 ·Average Daily Rate: Ps. 1,247.1; a decrease of 0.6%.
 ·Revenue per Available Room (RevPAR): Ps. 788.7, a 4.9% increase vs 1Q17.

¹  Beginning in 1Q17, Hotel NOI and NOI from other businesses are broken down separately. The first is the calculation of the Fibra’s revenue (hotel revenues and other revenues) minus operating expenses for administration, maintenance, lodging, utilities, fees, royalties, marketing and promotion, as well as property tax and insurance. The second (NOI) corresponds only to revenues and expenses from the Hotel Factory. Additionally, Total NOI will be reported.
²  Adjusted EBITDA includes acquisition and organization expenses.                                                                           
³  FFO is calculated as the Adjusted EBITDA plus interest gain less interest expense and foreign exchange fluctuations.
⁴  Calculated based on 436,203,572 CBFIs outstanding at the close of 1Q18; yield is based on Ps. 12.14 per CBFI as of March 30, 2018.

FOR THE FULL VERSION OF THIS PRESS RELEASE PLEASE VISIT:
https://www.fibrainn.mx/site/en/quarterly-results/