Motion for Joint Administration Approved for Grupo Posadas, S.A.B. de C.V.
October 27, 2021 at 12:00 am EDT
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The US Bankruptcy Court granted an order for the joint administration of the Chapter 11 bankruptcy cases of Grupo Posadas, S.A.B. de C.V. and its affiliate on October 27, 2021. The affiliate include Operadora del Golfo de Mexico, S.A. de C.V. The cases would be jointly administered for administrative and procedural purposes. Grupo Posadas, S.A.B. de C.V. has been designated as the lead debtor.
Grupo Posadas SAB de CV is a Mexico-based company engaged in the hospitality industry. The Company focuses on the construction, acquisition, leasing, promotion and management of hotels. Its activities are divided into five business segments: Hotels, which operates a network of hotels under Live Aqua, Fiesta Americana, Fiesta Inn, Gamma, The Exploration and One brand name, among others; Holiday Club, which manages a network of vacation resorts under various brand names, such as Fiesta Americana Vacation Club, Kivac and Live Aqua Residence Club; Hotels administration, which offers brand names and properties leasing, as well as hotel administration for third parties, among others; Corporate, which comprises operations within group entities, and Sale of real estate, which includes disposal of non-core real estate assets. The Company operates through Inmobiliaria Hotelera Posadas SA de CV, Posadas de Mexico SA de CV, Hotel Condesa del Mar SA and Porto Ixtapa SA de CV, among others.
GRUPO POSADAS, S.A.B. DE C.V. 
