Holiday Inn Switches Mexican Partners: Shortly after dumping longtime franchisee Posadas de Mexico, the U.S. hotel chain is negotiating a $42-million, 50-50 joint agreement with Posadas' rival, Situr, an affiliate of the construction conglomerate Sidek. The two companies plan to build 10 hotels in Mexico over the next two years. Meanwhile, Posadas is replacing the Holiday Inn signs on its hotels with ones that read Fiesta Americana, the name of its own upscale chain.
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