Fibra Inn acquires Hotel Camino Real Guanajuato

August 21
6:44 PM 2013

Fibra Inn is a real estate investment trust specialized in the hotel industry. Today, it had announced acquisition of Hotel Camino Real Guanajuato. The deal was paid in cash from the proceeds of the initial public offering (IPO) last March 13. The deal was paid MXN230 million that included acquisition expenses and taxes. The acquisition was the first of the pipeline after it had committed to buy the hotels announced during the IPO.

The Camino Real Guanajuato Hotel is located in Guanajuato. The hotel operates 105 rooms in an antique Hacienda. It is also the leading local hotel. The acquisition was a strategic move as Fibra Inn is located near the city of Silao. This is also where General Motors in the country had been in operation. Aside from being the near to manufacture companies and industrial parks, Guanajuato is an attractive tourist spot. Domestic and foreign visitors often come by in the area.

Last 2012, the hotel's occupancy went up by 60% higher than its daily average rate. The hotel is expected to add 50 more rooms that would fully operate by third quarter 2014.

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