Mexicans Bring Hotel Fibra

Hoteles Prisma is planning to raise funds in Mexico’s Fibra market, according to regulatory documents. The Mexican hotel operator is planning a fund into which it will put eight hotels operating under the Holiday Inn and Hampton Inn brands. It does not indicate the size, though market expectations are for a deal under $500m-equivalent. Proceeds from the REIT-like transaction will be used to purchase additional assets. Actinver is managing the sale. Fibra Uno is still the only transaction in the Fibra asset class so far – IPOing last year before holding a $700m follow-on in March – through several others are said to be in the pipeline and keen to file amid increasing enthusiasm for Mexican equity issuance.