FibraHotel (BMV:FIHO 12), the first real estate investment trust specialized in urban business-class hotels in Mexico, and Starwood Hotels & Resorts Worldwide, Inc., has announced the sale of the Sheraton® Ambassador Monterrey hotel to FibraHotel, adding 229 rooms to FibraHotel’s portfolio. The transaction will represent a total investment of US$13.5 million by FibraHotel, including a comprehensive property renovation over the next two years. The hotel will be operated by Starwood through a long-term management agreement. FibraHotel and Starwood also announced that they will collaborate to expand the number of hotels they work on together in Mexico as FibraHotel looks to grow its hotel portfolio. FibraHotel recently signed an agreement with local developers for five business hotels in the country, and will work with Starwood to open those hotels under Starwood’s vibrant Aloft® brand with Starwood as the operator.
Sheraton Ambassador Hotel is ideally located at Ave. Hidalgo 310 Oriente in the heart of downtown Monterrey – one of Mexico’s largest cities and an important industrial and global business hub. The hotel currently features 229 guest rooms, over 13,000 square feet of meeting space, full-service dining at Los Vitrales Restaurant, a lobby bar, a health club, an outdoor pool and tennis court, and a Sheraton Club Lounge. The hotel is walking distance to the restaurants, shops and museums of historic downtown Monterrey and just 30 minutes from Monterrey International Airport (MTY).
With this acquisition, FibraHotel´s portfolio consists of 66 hotels and 9,098 rooms, of which 53 hotels are in operation (7,334 rooms), 12 in different stages of development, and a hotel under expansion and remodeling.
