Mexican group sells 15 Caesar Park hotels in South America to French operator

Tuesday, July 17th 2012 - 19:07 UTC

Full article 3 comments

Mexican hotel operator Grupo Posadas said Monday it reached an agreement to sell its properties and management contracts in South America to French hospitality company Accor for 275 million dollars. Read full article

Comments

Disclaimer & comment rules

Simon68
I think that Grupo Posadas has a lot more savvy than Accor, getting out of South America when most of the economies are going down the tubes seems pretty sensible to me!!!
Jul 18th, 2012 - 01:47 pm - Link - Report abuse 0
-+
jerry
Especially since tourists are not coming in much lowere numbers than of the past several years.
Jul 18th, 2012 - 03:02 pm - Link - Report abuse 0
-+
JoseAngeldeMonterrey
Grupo Posadas had to let go of their South American assets because of their high leverage. But I am sure they must feel sorry with the Soccer world cup, the Olympics and other important events coming to Brazil.
Jul 18th, 2012 - 05:59 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!