MONTERREY, Mexico, Feb. 27, 2019 (GLOBE NEWSWIRE) -- 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 third quarter results for the period ended December 31, 2018 (4Q18). These results were prepared in accordance with International Financial Reporting Standards (IFRS) and are stated in nominal Mexican pesos (Ps.).
4Q18 Financial Highlights:
- Fibra Inn concluded the quarter with 42 hotels in operation, representing a total of 6,785 rooms. Fibra Inn has a participation in 4 properties, under the external development Hotel Factory Model, that will add 633 rooms.
- Total Revenue: Ps. 513.8 million, of which 94.6% were from room revenues and 5.4% were from other rental revenues, for a total increase of 4.4% compared to 4Q17.
- Hotel NOI1: Ps. 166.4 million, a 3.6% decrease compared with the Ps. 172.6 million reported in 4Q17; Hotel NOI margin was 32.4%.
- Adjusted EBITDA2: reached Ps. 141.4 million, a 13.4% decrease compared to the Ps. 163.3 million in 4Q17.
- FFO3: Ps. 109.1 million, a 10.7% decrease compared with the Ps. 122.2 million reported in 4Q17; the FFO margin was 21.2%.
- Distributions to Holders4: Ps. 93.7 million for the 519,421,425 CBFIs outstanding at the close of 4Q18, representing an annualized dividend yield of 7.3% for the quarter.
FOR THE FULL VERSION OF THIS PRESS RELEASE PLEASE VISIT:
https://www.fibrainn.mx/site/en/quarterly-results/
1 Hotel NOI and NOI from other businesses are broken down separately. Hotel NOI 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. NOI corresponds only to revenues and expenses from the Hotel Factory. Additionally, Total NOI is reported.
2 Adjusted EBITDA excludes acquisition and organization expenses and maintenance CAPEX.
3 FFO is calculated as the Adjusted EBITDA plus interest gain minus interest expense and foreign exchange fluctuations.
4 Calculated based on 519,421,425 CBFIs outstanding at the close of 4Q18; yield is based on Ps. 9.81 per CBFI as of December 31, 2018.
In Mexico:
Lizette Chang, IRO
Fibra Inn
Tel. 52-1-81-1778-5926
lchang@fibrainn.mx
In New York:
Maria Barona / Melanie Carpenter
i-advize Corporate Communications
Tel. (212)406-3691
mbarona@i-advize.com