Fibra Inn Announces the Agreement in Process with Wyndham Hotel Group
By: Robert Diamond Jul. 25, 2013
Wyndham Hotel Group is the world's largest hotel company with over 7,380 hotels in more than 66 countries. The Hotel Group, which has over 100 hotels throughout Latin America, has 30 properties and over 4,000 rooms in Mexico.
Fibra Inn recently acquired the 198-room Wyndham Casa Grande Monterrey, and additional properties have already been identified for acquisition and conversion to Wyndham brands this year.
Fibra Inn reiterates its commitment to operate under globally-recognized and reputable brands that will add value to the portfolio of the Fibra. With this agreement, Fibra Inn will operate in 10 states throughout Mexico comprising more than 3,100 rooms.
About the Company
Fibra Inn is a Mexican trust formed primarily to acquire, own, develop, operate and rent a broad range of hotel properties in Mexico. Headquartered in Monterrey, Fibra Inn has a portfolio of 14 high-quality hotels and geographically-diverse located in ten states throughout Mexico, comprising approximately 2,423 rooms. The Company has signed Franchise Agreements with IHG to operate its global brands Holiday Inn, Holiday Inn Express, and Holiday Inn Express & Suites; with Hilton to operate its brand Hampton Inn by Hilton; and is in the process with IHG, Marriott International and Wyndham Hotel Group to operate its global brands. These hotels enjoy some of the industry's top loyalty programs and, offer attractive hotel options for businesses travelers. Fibra Inn recently listed its Real Estate Trust Certificates (Certificados Bursatiles Fiduciarios Inmobiliarios or "CBFIs") on the Mexican Stock Exchange and trades under the ticker symbol "FINN13".
For more information, please visit: http://fibrainn.mx/en/investors.php
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
SOURCE: BUSINESS WIRE
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