Mexico City–based hotel owner/operator Hoteles City Express S.A.B. de C.V. has plans to create a trust under the tax regime of a lodging REIT and place a minority percentage of REIT shares issued by the lodging REIT on the market through a primary public offering.
Hoteles City Express plans to contribute a portfolio of 42 wholly owned hotels to a lodging REIT named FIBRA STAY, and hold more than 50 percent of the vehicle. These assets represent the company’s mature portfolio and have been operating for more than two years, with geographical diversity across 20 states and 27 cities in Mexico.
