Fibra Inn announced on Friday that it bought two hotels in Mexico, the 150-room Hotel México Plaza Celaya, located in Celaya, for 139 million pesos (US$10.5 million) and the 126-room Hotel Mexico Plaza Leon Centro Max, located in León for 150 million pesos (US$11.3 million).
Fibra Inn, Monterrey, Mexico, said it will spend a combined 16 million pesos (US$1.2 million) rebranding the hotels under Wyndham Hotel Group’s Wyndham Garden Hotels brand.
The purchase of each property was approved with a stabilized cap rate of about 10%. Both hotels will complete conversion by April.