Fibra Inn, a Mexico real estate investment trust that specializes in providing business travelers with worldwide brands in the hotel field, has formally agreed to purchase Casa Grande Ciudad Juarez Hotel.
The hotel has a total of 145 rooms and also runs its full-service segment.
Fibra Inn has agreed to purchase the hotel for over $6 million. Fibra Inn intends to maximize its return from the property by adding another 50 rooms and creating an international brand for the hotel. The additional rooms will cost approximately $3 million, and the rebranding will cost an investment of approximately $6 million. Fibra Inn will use bank credit line resources to budget the total funds.
The company expects the investments to begin generating profits by the end of next year. Grupo Hotelero Fibra Inn will operate the hotel, creating important synergies.