MEXICO CITY—FibraHotel, a real estate investment trust specialized in urban business-class hotels in Mexico, announced that it closed the acquisition of Fiesta Inn Oaxaca Hotel, after having satisfied all the conditions that the transaction was subject to.
The transaction was paid with cash and represents a total investment of Ps. $170,000,000. This transaction represents the seventh closing of the set of 15 hotels to be acquired and currently under progress, which were announced on April 23.
The Fiesta Inn Oaxaca has 145 rooms. During 2012, the hotel had an occupancy rate of 68 percent, an ADR of Ps. $934, and a RevPar of Ps. $631.
With this closing, FibraHotel’s portfolio consists of 41 hotels of which 38 hotels are in operation and 3 hotels are under development, with a total of 5,723 rooms, of which 5,389 rooms are currently in operation.