Nexxus Capital Takes Mexican Hotel Platform Public
September 17, 2014
Nexxus Capital-backed Grupo Hotelero Santa Fe has gone public on the Mexican Stock Exchange under the symbol HOTEL. The company priced last week at MXN10 ($0.76) per share and closed Tuesday at MXN9.52 ($0.72), down 0.83%. As of June 30, the Grupo Hotelero Santa Fe portfolio consisted of 13 hotels, including several under the Krystal brand. Nexxus retained a 34.5% stake after an IPO of MXN750 million ($56.8 million) that gave the firm an unrealized gross multiple of cost of 1.75x. Walton Street Capital had also helped establish the platform in February 2010.