Fibra Inn · BIVA:FINN/13
Fibra Inn — Q2 2014 Earnings Presentation
23 slides from Fibra Inn's earnings presentation, July 2014
Slide 1: Second Quarter 2014 Results
Second Quarter 2014 Results July 2014
Slide 2: Agenda
Agenda • Quarterly Distribution and Dividend Yield • Corporate Governance Highlights • Acquisition, Developments and Addition of Rooms • Future Pipeline • Operational and Financial Highlights • Closing Remarks • Q&A Session 2
Slide 3: Quarterly Distribution and Dividend Yield
Quarterly Distribution and Dividend Yield 3
Slide 4: Distributions and Dividend Yield
Distributions and Dividend Yield Period Ps./CBFI Dividend Yield Analysis 1Q13 0.0278 2014: 1Q-2Q 1Q14 2Q14 2Q13 0.2063 Dividend (Ps./ CBFI) 0.2283 0.1683 Closing Price (Ps.) 17.56 18.26 3Q13 0.2338 Dividend Yield 5.2% 3.7% 4Q13 0.2388 2Q14 - Trailing Twelve Months 2013 0.7067 Total Dividend Ps. 0.86
Slide 5: Corporate Governance Highlights
Corporate Governance Highlights 5
Slide 6: Corporate Governance Highlights
Corporate Governance Highlights July 18, 2014: General Shareholders’ Meeting ü Approval of bank loan for Ps. 2.3 billion. ü The purpose of the loan is for hotel acquisitions and to reach our goal of at least 30 properties by end of 2014. ü Loan negotiation for a 4.5-year scheme at a rate equal to
Slide 7: 2Q14 Developments, Acquisitions and Addition of Rooms
2Q14 Developments, Acquisitions and Addition of Rooms 7
Slide 8: 2Q14 – Hotel Development
2Q14 – Hotel Development April 3, 2014 – Fairfield Inn & Suites by Marriott in Ciudad del Carmen, Campeche Key facts: Investment: Land Ps. 21.8 million Construction Ps. 157.4 million Taxes and Other expenses Ps. 9.7 million Projected Cap Rate: 12.3% Number of Rooms: 180 Segment: Limited Service Open
Slide 9: 2Q14 - Hotel Acquisitions
2Q14 - Hotel Acquisitions April 2, 2014 - Aloft Guadalajara Key facts: Investment: Ps. 220 million Projected Cap Rate: 10% Number of Rooms: 142 Segment: Select Service 9
Slide 10: 2Q14 - Hotel Acquisitions
2Q14 - Hotel Acquisitions May 5, 2014 - Mexico Plaza Silao to be converted to Wyndham Garden Key Facts: Acquisition Price: Ps. 80 million Other taxes and expenses Ps. 11.2 million Projected Cap Rate: 10% Number of Rooms: 143 2013 Hotel Indicators: Occupancy Rate: 31% ADR: Ps. 586.2 RevPar: Ps. 181.7
Slide 11: 2Q14 - Room Additions
2Q14 - Room Additions June 18, 2014 - Room additions at Holiday Inn Express Playa del Carmen and Guadalajara Autónoma Holiday Inn Express Playa del Carmen Holiday Inn Express Guadalajara Autónoma Key Facts: Key Facts: Investment Amount: Ps. 38.5 million Investment Amount: Ps. 80.3 million Rooms Adde
Slide 12: Current Standing
Current Standing 2Q13 2Q14 Variation Hotels 13 23 +10 Rooms(1) 2,423 4,644 +92% Developments 0 3 +3 Segments 2 3 +1 States 9 13 +4 Global Brands 2 8 +6 Local Brands 0 1 +1 (1) Includes rooms under development 12
Slide 13: Future Pipeline
S eg . 4 Fibra inn. a Future Pipeline
Slide 14: Future Pipeline
Future Pipeline Ps. 830 Ps. 6,700 Initial Portfolio Acquisitions 4 Hotels Total Size of Fibra Inn Ps. 6,700 million Addition of rooms 761 Rooms Developments Ps. 1,470 § 19 hotels Total Portfolio Pipeline in analysis § Ps. 2.6 billion valued 3 Hotels § 2,800 rooms 540 Rooms § Acquisitions >10% 10
Slide 15: Operational and Financial Review
Operational and Financial Review 15
Slide 16: Operational Review
Operational Review Same Store Sales # 2Q14 2Q13 Var % Room Revenues 189.1 188.8 0.13% Occupancy 57.5% 62.7% -5.2 p.p Average Daily Rate (ADR) (Ps.)# 1,002.1 930.2 7.7%# RevPAR (Ps.)# 576.6 583.7 -1.2%# # # # # ANTAD Same Store Sales # # 0.7%# * ANTAD is the Na:onal Associa:on for Supermarkets and De
Slide 17: Financial Review
Financial Review Financial Indicators (Ps. millions) 2Q14 % 2Q13 % Room Revenue # 192.5# 95%# Rental Revenue 11.1# 5%# 40.9# 87%# Other Revenue 6.3# 13%# Total Revenue for Fibra 203.6# 100%# 47.2# 100%# Fibra Revenue by Segment (Ps. millions) 2Q14 % 2Q13 % Limited Service 19.8 9.8 -# - Select Servic
Slide 18: Financial Review
Financial Review Financial Indicators (Ps. millions) 2Q14 % 2Q13 % Total Fibra Revenue 203.6# 100% 47.3# 100% Operating Expenses 136.6# 67.1% 4.6# 9.6%# Net Operating Income (NOI) 67.0# 32.9% 42.7# 90.4%# EBITDA 53.6# 26.3% 35.9# 76.1%# Net Income 18.4# 9.1% 53.6# 113.4%# FFO 48.5# 58.2# Distributio
Slide 19: Financial Review
Financial Review Balance Sheet (Ps. millions) 2Q14 1Q14 Var % Cash & equivalents 339.1# 454.6# -25.4%# Total Assets 5,555.5# 5,159.9# 7.7%# Short Term Liabilities 1,034.4# 602.9# 71.6%# Long Term Debt 2.3# 2.3# 0.0%# Total Liabilities 1,036.7# 605.2# 71.3%# Equity 4,518.8# 4,554.7# -0.8%# 19
Slide 20: Financial Review
Financial Review Upcoming bank loan for Ps. 2.3 billion, peso-denominated for a 4.5 year-term at a rate of TIIE + 2.5% with two rate step ups of 0.25% on month 37 and on month 45.# As of June 30, 2014: Financial Covenants • Loan to value ratio is 14.5%. • The debt service coverage ratio Loan / Value
Slide 21: Closing Remarks
S eg . 4 Fibra inn. a Closing Remarks
Slide 22: Question and Answer Session
Question and Answer Session 22
Slide 23: Contact and 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 estimates of future economic circumstances, industry conditions, Company performance and financial re