Real estate investment trust Fibra Inn has signed a letter of intent (LoI) with Operadora de Hoteles City Expres to develop ten hotels in several locations across Mexico.
The hotels will be developed in the next two years under any of the brands that include City Express, City Express Plus, City Express Junior or City Express Suites.
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Fibra Inn will make all of the required investments needed to develop and start operations of the hotels.
Hoteles City Express will manage operations for about six of such properties and Fibra Inn will manage up to four hotels.
Fibra Inn has been established to acquire, develop, operate and rent a range of hotel properties in Mexico.
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The trust has a portfolio of real estate properties intended at the business traveller, which are geographically diversified throughout Mexican territory.
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By GlobalDataThe company has signed franchise agreements with IHG and Wyndham Hotel Group to operate several of their worldwide brands.
Fibra Inn also has licensing agreements and brand usage agreements with Hilton to operate its Hampton Inn by Hilton and with Starwood Hotels & Resorts Worldwide to operate the Aloft brand.
