Fibra Inn announced the acquisition of the Hotel México Plaza Celaya, located in the state of Guanajuato. This hotel will be converted to the Wyndham Garden brand. The acquisition price was Ps.

139 million, excluding MXN 8.1 million in expenses for brand name change, as well as respective taxes and acquisition costs. The compan's internal bodies approved the purchase of this property, at a stabilized cap rate of 10%. The acquisition was paid in cash using proceeds from the initial public offering that took place on March 13, 2013.

The conversion to the Wyndham Garden Brand is expected to conclude by April of 2014. This property has 150 rooms, will operate under the limited service segment; and will be operated by company's Hotel Operator supported by the current Hotel Operator. The company opted to purchase this hotel for the following reasons: Bajio is an attractive area due to high growth caused by direct foreign investment, which has benefitted occupancy and room rates.

The influx of people into the Bajio area has increased during weekends, due to extended stays of employees in the auto industry. The hotel has experienced a solid performance with the regional Mexico Plaza, which is expected to improve even more upon conversion to the international Wyndham Garden brand. The hotel is located at the northern entrance of the city and is surrounded by stores and restaurants.

The property is located near the Mazda and Honda automotive plants as well companies in the food and beverage, electronics and metallurgical sectors. Its location is strategic as it is near the México-Querétaro freeway and along the Industrial Zone.