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FibraHotel secures 1B Mexican peso credit line

FibraHotel said it secured a third 1.00billion-Mexican-peso credit line from "one of the main financialinstitutions in Mexico."

The credit line has a 10-year term from July 19 and the companyhas 24 months to make disbursements.

FibraHotel will use the credit line for the acquisition anddevelopment of new hotels.

The company also noted that it opened three hotels in Mexicoduring the second quarter, AC by Marriott Guadalajara, Grand Fiesta AmericanaMonterrey Valle and LiveAqua-Monterrey Valle.

Meanwhile, on July 19, it announced the opening ofFiesta InnLofts-Monterrey La Fe in Mexico with 48 extended stay rooms.

As of July 20, US$1was equivalent to 18.52 Mexican pesos.