MEXICO CITY Nov 14 Mexican real estate
investment trust Fibra Hotel said on Thursday it had
signed a deal with U.S. hotel chain Marriott International Inc
to build and operate 20 new hotels in Mexico by 2016.
"The first six hotels were signed this week and will add
approximately 800 rooms to the Mexican market," Fibra Hotel said
in a statement.
It did not disclose the financial terms of the deal.
Fibra Hotel is a trust, known locally as a fibra, that
issues certificates that function much like shares on the stock
exchange. The fibras allow investors to participate in Mexico's
property market without owning buildings.
Fibra Hotel has a portfolio of 49 business hotels across
Mexico, offering more than 6,500 rooms, the company said, while
Marriott has 23 hotels in the country.