MEXICO CITY Debt-ridden Mexican conglomerate Grupo Sidek said that its tourism unit, Situr, sold its first package of hotels for an undisclosed price to Steadfast Properties. The hotels were sold in public auction through AMX Resort Holdings LLC, a Steadfast Properties subsidiary.
Sidek has faced grave financial problems since December 1994, with the onset of the Mexican peso devaluation that plunged Mexico into economic crisis. Sidek said the deal to sell the hotels should close within the next 15 days and would not disclose the value of the deal or the hotels involved. (1/24/01)