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Hoteles City Express raises $176 million

Friday, October 10, 2014

Mexican hotel chain Hoteles City Express said on Thursday it had sold $176.11 million in shares in a follow-on offering to continue developing new hotel projects.

Foreign investors bought up a bigger portion of the 100 million, while Mexican investors purchased about 36 percent, the company said.

Founded in 2002, Hoteles City Express runs 90 hotels in Mexico, Costa Rica and Colombia.

Source: Reuters