Fibra Inn Announces plan to develop 10 hotels in Mexico through partnership Hoteles City Express
Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13) ("Fibra Inn" or "the Company"), a Mexican real estate investment trust specializing in the hotel industry serving the business traveler, announced that it signed a letter of intent with Operadora de Hoteles City Express, S.A. de C.V. ("Hoteles City Express") to develop 10 hotels in various locations throughout Mexico during the next two years, under...
Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV:FINN13) ("Fibra Inn" or "the Company"), a Mexican real estate investment trust specializing in the hotel industry serving the business traveler, announced that it signed a letter of intent with Operadora de Hoteles City Express, S.A. de C.V. ("Hoteles City Express") to develop 10 hotels in various locations throughout Mexico during the next two years, under any of the following brands: City Express, City Express Plus, City Express Junior or City Express Suites.
In accordance with the letter of intent, Fibra Inn will make all of the necessary investments required for the development and initiation of operations of the hotels. Furthermore, it establishes that Hoteles City Express will manage operations for at least six of such properties and Fibra Inn will manage up to four of the properties.