Investor Presentaiton
46
Management
Discussion and Analysis
2013 Annual Report / Fibra Inn
2013 Annual Report / Fibra Inn
47
During 2013, the deceleration of the Mexican economy was evident as of the second half of the
year. The same-store-sales indicator of the National Association of Supermarkets and Department
Stores ("ANTAD") practically had no change, at a 0.1% growth.
The key factors that affected consumption were:
Lower public expense over the year, because the Federal Government had delayed the bud-
get allocation.
The low security in certain areas of the country affected consumer habits, reducing the ave-
rage ticket price.
•
Finally, the natural disasters that occurred during September 2013.
Hotel Indicators by Region
Same Store Sales - 18 Hotels
REGION
North
2012
2013
Occupancy
ADR
RevPAR Occupancy
ADR
RevPAR
64%
851
542
63%
894
563
Northeast
61%
927
564
63%
956
606
Center & South
58%
1004
581
60%
996
600
West
TOTAL
67%
1105
744
65%
1123
732
60%
971
583
62%
983
608
However, Fibra Inn showed outstanding results for its 18 hotels portfolio; which translates into a
same-store-sales-growth in RevPAR, up 4.3% in 2013, reaching Ps. 608. This was the result of a 2
percent growth in the occupancy rate, which was of 62%, and a growth of 1.2% in the average rate
for 2014, which was Ps. 983.
Hotel Indicators
Same Store Sales
Occupancy
Average Daily Rate
RevPAR
-
18 Hotels
Hotel Indicators by Segment
The hotel revenue was Ps. 484.3 million, corresponding to the 18 hotels in operation, of which,
Ps. 427.5 million was lodging income, representing 88.3% of the total hotel revenue, and Ps. 56.8
million from other hotel revenue, which represented 11.7%.
On the other hand, Fibra Inn's Total Revenue in the year 2013 was Ps. 202.9 million, of which
70.8% came from select service hotels, 26.6% from full service hotels, and 2.5% from limited service
hotels. This total revenue is comprised as follows:
Hotel Operation Indicators
2012
2013
Variation
60%
62%
971
983
2 p.p
1.2%
•
583
608
4.3%
Same Store Sales - 18 Hotels
2012
2013
SEGMENT
Occupancy
ADR
RevPAR Occupancy
ADR
RevPAR
Budget
54%
640
344
79%
649
512
Selected Service
56%
965
541
60%
974
585
Full Service
69%
1010
694
64%
1042
666
•
TOTAL
60%
971
583
62%
983
608
• Ps. 166.9 million is income from the lease of 18 properties at hand as of the end of 2013.
• Ps. 8.7 million is from Lodging Income, derived from the changes to hotel revenue structure,
applied between December 26 and 31, 2013.
Ps. 27.2 million derived from Other income corresponding to Real Estate Service invoiced to
the hotel tenants by the management subsidiary under the previous revenue Structure ("Ad-
ministradora de Activos, Fibra Inn, S.C." or "La Administradora"), which is a civil corporation
and Fibra Inn Subsidiary.
The total operation expenses in 2013 were Ps. 25.3 million, of which:
• Ps. 18.6 million was for services from the subsidiary, or The Administrator, for payroll of hotel
management and maintenance personnel.
Ps. 3.6 million was for operating expenses for the last 6 days of the year, when the new reve-
nue structure came into effect.
Ps. 1.2 million in insurance and Ps. 1.9 million in property taxes on the properties acquired over
the quarter.View entire presentation