Hotel Chain Posadas Group Will Develop 36 Hotels For $350 Million Dollars in Mexico

Grupo Posadas will develop 36 hotels for $350 million dollars


20/02/2011 22:16

Hotel chain Grupo Posadas, will invest $350 million dollars in a three-year project that includes the development of 36 hotels in the country, revealed Michel Montant, Corporate Director of Posadas Real Estate Development.

The group operates brands such as Aqua in Mexico and Caesar Park in South America (Brazil, Argentina and Chile), has scheduled to open in 2011, 10 new properties (with approximately 1,200 rooms) in medium size cities in Mexico, including Guadalajara, Zacatecas and Oaxaca.

With this expansion, is projected to grow to 115 hotels with 16,000 available rooms.

This investment is an interesting increase contrary to what we had in previous years because we continue 20% or 25% below our development projects in 2007, but we keep going,' said Montant. (El Universal)

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