Availability at FIBRA Inn properties rebounds in 2023

Mexican trust, FIBRA Inn, recently reported an improvement in their hotel availability rate over the past year. As per the trust's latest report filed with the Mexican Stock Exchange, as of the close of January 2023, the availability rate at 33 FIBRA Inn hotels was 47.8%, which was lower than the figure reported in January 2022 (63.4%).

The January 2023 vs. January 2022 same-store sales calculation took into account 33 hotels in operation, as two hotels closed in Coatzacoalcos and the Holiday Inn Coyoacan are not considered, as per the trust's report. The reduction in availability rates implies higher hotel occupancy and, therefore, higher revenues for FIBRA Inn's hotel real estate. In this regard, FIBRA Inn reported a 68.1% increase in lodging revenues last year.

In January 2023, the trust's lodging services generated 149.4 million pesos, while the income was 88.9 million pesos in January of last year. The increase in FIBRA Inn's revenues is related to the occupancy increase in 33 hotels, as well as a rise in rates. As per the trust's hotel indicators, rates at FIBRA Inn hotels increased 17.6% between January 2022 and January 2023, from 1,387.9 to 1,631.9 pesos. According to SiiLA FIBRA Analytics, the FIBRA Inn hotels with the most rooms include Holiday Inn Express & Suites Toluca (268, JW Marriott Monterrey Valle (250), and Hampton Inn Saltillo (226).

FIBRA Inn is a Mexican trust that primarily acquires, develops and leases a broad group of lodging properties in Mexico. As of January 31, 2023, the trust had a total portfolio of 35 properties with 6,047 rooms (5,833 operating and 394 closed). Additionally, FIBRA Inn has a minority interest "in a project under the Hotel Factory model, which represents 218 rooms."

If you are interested in obtaining more information and insights about Mexico's commercial real estate market, visit SiiLA or write to us at contacto@siila.com.mx.