|
|
Article: Grupo Posadas Hotel Co. plans to double size in next five years.
- Article from:
- Business Wire
- Article date:
- June 14, 1995
CopyrightCOPYRIGHT 1995 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
MEXICO CITY--(BUSINESS WIRE)--June 14, 1995--Despite Mexico's challenging economic climate, Grupo Posadas, Latin America's largest owner and operator of hotels, has announced plans to expand by more than 100 percent in the next five years.
Luis Barrios, Grupo Posadas chief executive officer, said Wednesday that the company, which has 42 properties and more than 10,000 rooms under two brands -- Fiesta Americana and Fiesta Inn -- in Mexico, the U.S. and Venezuela, is forging ahead with plans to have 100 properties by the year 2000.
Barrios credited the company's current strong position in the Mexico market and its optimistic growth plans to an "aggressive yet ...