Slide 1: Third Quarter 2015 Results
Third Quarter 2015 Results Conference Call October 16, 2015
Slide 2: Agenda
Agenda Third Quarter 2015 Results I. Quarterly Distribu<on and Dividend Yield II. Relevant Events III. Status of Developments IV. Acquisi<on of Hotels V. Opera<onal and Financial Highlights VI. Closing Remarks VII. Q&A Session 2
Slide 3: I. Quarterly Distribution and Dividend Yield
Conference Call Third Quarter 2015 Results I. Quarterly Distribu?on and Dividend Yield
Slide 4: Distributions and Dividend Yield
Distribu?ons and Dividend Yield Total Distribu?on (millions) Quarterly Dividend Yield % 3Q15 3Q14 Var % Period 2013 2014 2015 Distribution Ps. 78.8 60.0 31.4% 1Q 4.5% 5.6% 4.6% CBFIs outstanding 437.0 258.3 69.1% 2Q 4.3% 3.7% 5.4% 3Q 6.0% 5.3% 4.8% 4Q 5.8% 4.2% Year 4.1% 4.9% Distribu?on Ps. Per CBF
Slide 5: II. Relevant Events
Conference Call Third Quarter 2015 Results II. Relevant Events
Slide 6: Acquisitions: Staybridge Suites Guadalajara Expo
Acquisi?ons July 9, 2015 -‐ Staybridge Suites Guadalajara Expo Key Facts Investment* Ps. 133.6 million Projected Cap Rate 9.54% Number of Rooms 117 Segment Extended Stay 6 *Excluding acquisi<on-‐related expenses
Slide 7: Acquisitions: Arriva Express Guadalajara Plaza del Sol Expo
Acquisi?ons -‐ Arriva Express Guadalajara Plaza del Sol Expo July 9, 2015 Key Facts Investment(1) Ps. 141.4 million Projected Cap Rate 10.23% Number of 181 Rooms(2) Segment Select Service 7 (1) Excluding acquisi<on-‐related expenses (2) Including 15 rooms under renova<on
Slide 8: III. Status of Developments
Conference Call Third Quarter 2015 Results III. Status of Developments
Slide 9: Status of Developments
Status of Developments Expected Total Construction Property State Rooms Executed Remaining Termination Date Investment Progress (Ps. millions) Courtyard by Marriott Saltillo Coahuila Nov 1, 2015 180 197.9(1) 147.5 50.4 89.0% Fairfield Inn & Suites by Marriott Veracruz Dec 16, 2015 180 146.4(2) 95.6 5
Slide 10: Current Standing
Current Standing Variation 3Q15 3Q14 3Q15 vs 3Q14 Hotels(1) 35 33 2 Rooms(1) 6,238 5,532 706 Developments 2 3 -1 Land banks 1 - +1 Segments 4 3 +1 States 15 14 +1 Global Brands 13 10 +3 Local Brands 3 1 +2 (1) Includes properties and rooms under agreement and under development. 10
Slide 11: V. Operational and Financial Review
Conference Call Third Quarter 2015 Results V. Opera?onal and Financial Review
Slide 12: Operational Indicators
Opera?onal Indicators Same-Store Sales (32 comparable properties) 3Q15 3Q14 Var % Room Revenues (Ps. millions) 303.4 261.4 16.0% Occupancy excluding the addition of rooms 60.6% 59.2% 1.4 pp Occupancy 58.2% 59.2% -1.0 pp Average Daily Rate (ADR) (Ps.) 1,092.1 964.1 13.3% RevPar excluding the addition
Slide 13: Fibra Revenue
Fibra Revenue Financial Indicators 3Q15 % 3Q14 % Var % (Ps. millions) Room Revenue 315.7 94.0 210.3 93.7 50.1 Rental Revenue 21.6 6.0 14.1 6.3 53.3 Total Revenue for Fibra 337.3 100.0 224.4 100.0 50.3 1.5% 10.3% Total Revenue by Segment 12.9% 40.3% Limited 42.4% Select Full 49.4% Extended Stay 43.2%
Slide 14: Quarterly Income Statement
Quarterly Income Statement Income Statement 3Q15 % 3Q14 % Var. Ps. Var. % (Ps. millions) Total Fibra Revenue 337.3 100.0% 224.4 100.0% 112.9 50.3 Operating Expenses 219.7 65.1 137.7 61.3 82.1 59.6 NOI 117.6 34.9 86.7 38.7 30.9 35.6 Acquisition Expenses 2.0 0.6 - - 2.0 - EBITDA 93.3 27.7 74.8 33.3 18
Slide 15: YTD Income Statement
YTD Income Statement Income Statement 3Q15 3Q14 % % Var. Ps. Var. % (Ps. millions) YTD YTD Total Fibra Revenue 941.7 100.0% 627.6 100.0% 314.1 50.1 Operating Expenses 597.3 63.4 400.9 63.9 196.4 49.0 NOI 344.5 36.6 226.7 36.1 117.7 51.9 Acquisition Expenses 40.3 4.3 - - 40.3 - EBITDA 241.8 25.7 190.
Slide 16: Balance Sheet
Balance Sheet Balance Sheet Sep 30, 2015 % Dec 31, 2014 % (Ps. millions) Cash & equivalents 413.9 5.2 1,106.7 14.6 Total Assets 7,981.1 100.0 7,560.5 100.0 Liability for bank debt commission 7.4 2.0 10.7 2.9 Total Short Term Liabilities 232.0 25.3 297.9 80.1 Bank loans, net of commissions 672.8 73.5
Slide 17: Debt Issuance – Terms & Conditions
Debt Issuance – Terms & Condi?ons Issuer Deutsche Bank México, S.A., Banking Institution, Trust Division F/1616 Security Certificados Bursátiles Fiduciarios (CBF) Program Ps. 5.0 billion or its equivalent in UDIs or Dollars First Issuance Ps. 1,875,350,000 Rating HR AA+ HR Ratings / AA-(mex) Fitch R
Slide 18: Debt Issuance – Use of Proceeds
Debt Issuance – Use of Proceeds Concept Amount Pay off current bank debt Ps. 600,000,000 Investment in acquisition and Ps. 1,275,350,000 development of hotels Total Ps. 1’875,350,000 The credit agreement previously signed with Banorte, Actinver, Banamex, Scotiabank and Banregio shall be paid off in
Slide 19: Debt Issuance – Credit Profile
Debt Issuance – Credit Profile 20.3% 19
Slide 20: VI. Closing Remarks
Conference Call Third Quarter 2015 Results VI. Closing Remarks
Slide 21: Closing Remarks
Closing Remarks Third Quarter 2015 Results 1. Sales performance reached double-digit growth in same-store sales related to room revenue, average daily rates and RevPar indicators 2. Year-to-date financials are in line with annual expectations, despite the non-recurrent expenses registered during 3Q1
Slide 22: VII. Question and Answer Session
Conference Call Third Quarter 2015 Results VII. Ques?on and Answer Session
Slide 23: Note on forward-looking statements
Note on forward-‐looking statements This document may contain forward-‐looking statements. These statements are statements that are not historical facts, and are based on management’s current view and es<mates of future economic circumstances, industry condi<ons, Company performance and financial r