Fibrahotel Announces the Development of Two Hotels in Ciudad Del Carmen, Campeche with a Total of 254 Rooms
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FibraHotel announces the development of two hotels in Ciudad del Carmen, Campeche with a total of 254 rooms. The hotels will be a 130-room Courtyard by Marriott, operated by Marriot International and a 124-room Fiesta Inn Lofts operated by Grupo Posadas. May 28th, 2014 – Mexico City --- FibraHotel (BMV: FIHO 12), the first real estate investment trust specialized in urban business-class hotels in Mexico, announces the development of two hotels with a total of 254 rooms in Ciudad del Carmen, Campeche, in a mixed use project with offices, retail and two hotels. The hotels will be a 130-room select-service Courtyard by Marriott operated by Marriot International and a 124-room extended-stay Fiesta Inn Lofts operated by Grupo Posadas. The hotels will begin construction during Q2 2014 and are expected to open in the first half of 2015. The total investment in the development of the two hotels will be Ps. $255.5 million, of which FibraHotel has spent approximately Ps. $30.0 million to date. Both hotels will be located in a mixed use project in the main entrance to Ciudad del Carmen from the mainland and Villahermosa close to the “El Zacal” bridge and in one of the fastest growing areas of the city. The hotels will be located on Avenida 10 de julio between streets 13 and 15, Colonia Puntilla, Ciudad del Carmen, Campeche. Ciudad del Carmen is an island located in the Gulf of Mexico in south-east of Mexico and is the city with the highest GDP per capita in the country. Ciudad del Carmen is a strategic city in the oil industry, especially in off- shore drilling and deep underwater drilling near the Cantarell oil field. We expect the city to continue its rapid growth and be supported by the energy reforms recently approved. The mixed use project is being developed in parallel with the hotels and will consist of five buildings, two hotel buildings with 254 rooms, one office building with ~6,500m2 of GLA and two buildings with retail (~1,750m2 of GLA) and parking (over 530 parking spots). With this development, FibraHotel’s portfolio consists of 56 hotels and 7,623 rooms, of which 45 hotels are in operation (6,403 rooms) y 11 hotels are in different stages of development. http://www.fibrahotel.com 1 @FibraHotel Location of the hotels in Ciudad del Carmen, Campeche 1 –“El Zacal” bridge (main entrance from Villahermosa) | 2 –Pemex offices |3 – Porto| 4 – Airport Illustration of mixed use project and hotels Courtyard by Marriott Cd. del Carmen illustration Fiesta Inn Lofts Cd. del Carmen illustration http://www.fibrahotel.com 2 @FibraHotel About FibraHotel FibraHotel is a Mexican trust created primarily to acquire, develop and operate business-class hotels in the limited service, selected service, full service and extended-stay segments. Our objective is to provide attractive returns to our CBFI holders, through stable cash distributions and the appreciation of our real estate assets. Also, we will aim to have a high quality hotel portfolio, through the affiliation to different hotel brands and renowned operators, as well as geographic and segment diversification. Under Mexican laws, Fibras must invest at least 70% of its assets in real estate for lease, among other requisites. Additionally, Fibras must distribute in cash at least once a year 95% of taxable income to its CBFI holders. Such characteristics, together with a solid performance of the real estate market in Mexico and a team with over two decades of real estate and hotel experience, make FibraHotel an attractive investment vehicle. FibraHotel is internally managed by Fibra Hotelera, S.C., and is externally advised by Administradora Fibra Hotelera Mexicana, S.A. de C.V whose key executives have extensive experience in the development and operations of commercial real estate and hotels in Mexico. Investor Relations México D.F. Guillermo Bravo Tel: +52 (55) 5292 8050 E-mail: [email protected] http://www.fibrahotel.com 3 @FibraHotel .