Pablo Azcarrága has replaced his older brother, Gaston, as CEO of financially-troubled Posadas de México, the country’s largest hotel chain. Gaston, who ran Posadas for 20 years, faces legal problems. Among other things, he is blamed for the bankruptcy of Mexicana Airlines, which Posadas bought and later sold, reportedly for $1. Posadas operates Fiesta Americana, Fiesta Inn and “One” brand hotels.
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Jimm Budd
Reporting From Mexico City
Member of the Society of American Travel Writers
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