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Article: Latin American Hotel Company Grupo Posadas Expands Operations in South America.
- Article from:
- Business Wire
- Article date:
- October 13, 1999
CopyrightCOPYRIGHT 1999 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)
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MEXICO CITY--(BUSINESS WIRE)--Oct. 13, 1999--
Grupo Posadas and Inpar agree to invest $105 million
to build new Caesar Park hotels in Brazil
Grupo Posadas, Latin America's leading hotel company, and Brazilian development company Inpar Construcoes e Empreendimientos Imobiliarios LTDA, have signed an $105 million (USD) agreement to construct additional hotels operated by Caesar Park hotels in Brazil.
Gaston Azcarraga, president of Grupo Posadas and Alcides Parizzotto, CEO and president of Inpar, met in Mexico City to sign the contract. The joint venture will build more than 1,200 additional hotel rooms in Brazil over the next two years.
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