Fibra Inn Acquires Holiday Inn Express Playa Del Carmen
Friday May 24th, 2013 - 11:44AM EQ
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MONTERREY, MEXICO—Deutsche Bank Mexico, S.A., Banking Institution, Trust Division F/1616 or Fibra Inn, a Mexican real estate investment trust, has completed the acquisition of the Holiday Inn Express Playa del Carmen Hotel.
The hotel was acquired for roughly $11 million, and is the second hotel acquisition purchased with the proceeds from the company’s initial public offering that took place on March 13, 2013.
This hotel is part of the company’s acquisition portfolio, which will include four additional properties.
Fibra Inn will operate the hotel, which had an occupancy rate of 43% in 2012, via its hotel operator.
The Holiday Inn Express Playa del Carmen originally opened in 2006 and has 145 guestrooms. Fibra Inn expects to add an additional 51 rooms by the first quarter of 2014.
Tags: • Hospitality • Acquisitions • Owners/Operators •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.