FibraHotel announced the signature of an accord with Grupo Posadas for the acquisition of the Fiesta Americana Condesa Cancún hotel, a resort with 507 rooms, in a long term sale and leaseback agreement.

In a note to the Mexican Stock Exchange, also called for a shareholders meeting to authorize a program and emission of CBFI's.

The price of the sale will be 2, 892 million pesos.

Plus, Grupo Posadas and FibraHotel will invest 60 million pesos each, in order to renovate public áreas in 2017 and 2018, without affecting the existing inventory.

The acquisition is subjected to certain conditions, such as the approval of the FibraHotel shareholders board, the success of the CBFI's allocation and the approval of Mexico's antitrust agency.