Mexico’s biggest hotel group, financially-trouble Posadas, has sold its South American operations to Accor, a European hospitality coumpany. The 15 Posadas properties bore the name Caesar Park and Caesar Business. They were found in Argentina, Chile and Brazil. The sale, for a reported $275 million, included franchise and operations contracts. Posadas remains indebted, but with this sale its situation has improved.
--
Jimm Budd
Reporting From Mexico City
Member of the Society of American Travel Writers
No comments:
Post a Comment