Grupo Posadas, S.A.B. de C.V. & Subsidiaries Mexico City, July 28, 2011

Operational and Financial Results: Second Quarter 2011

Grupo Posadas, S.A.B. de C.V. & Subsidiaries Mexico City, July 28, 2011 With respect to the same quarter of previous year: 2 Total revenues increased 14% in pesos and 22% in USD System-wide RevPAR increased 9% in pesos and 18% in USD EBITDA increased 10% in pesos and 18% in USD Total indebtedness was reduced by $70 million > Financial Highlights Million pesos as of Variation Accumulated Variation June 30, 2011 2Q11 % YoY % 2011 % YoY % Total Revenues 1,831.9 100 14.1 3,548.5 100 12.1 EBIT 202.7 11 17.3 346.7 10 (2.0) EBITDA 307.2 17 9.7 576.8 16 (0.3) Majority Net Result 60.0 3 na 169.1 5 137.8 During the second quarter of 2011 we had a better operating result in our hotels system-wide in aggregate. Our Revenue Per Available Room (RevPAR) increased 8.9% in pesos and 18.1% in USD. In particular, urban hotels which represent 85% of the total rooms operated continue to perform better based on the strong positioning of our brands in the domestic business traveler segment, which continues experiencing strong growth. On the other hand, coastal hotel total revenues (same hotels) increased 11% over the same period of 2010 driven primarily by our two hotels in Cancun and one in Cozumel that are operating under the all-inclusive format. All inclusives reported a 40% increase in total revenues. EBITDA for the second quarter of 2011 increased 9.7% versus the same period of 2010 which is summarized by segment as follows: An increase for Owned and Leased hotels EBITDA of 27% largely due to the appropriate control of fixed costs. Management, which includes the fees of all the hotels and other businesses such as Ampersand, Conectum and Konexo presented a decrease of 30% mainly due to the launch in January 2011 of the new co-brand credit card with Banco Santander which replaced the previous program that ended in December of last year. The Vacation Club & Other business showed a 74% increase as a result of a marked improvement in the performance of the delinquent receivables, which lowered the cancellation rate, and on the other hand a rise in the sales of KiVac memberships which is consolidating its market position. The total indebtedness in pesos is $70 million lower than the one reported at the end of 1Q11. For the second half of 2011 the Company has scheduled amortizations of $66 million, excluding the committed credit line of $180 million that its renewal has been confirmed by the lender and is due July 29, 2011. Cash balance was $552 million (US$47 million) at the end of 2Q11. This reduction versus 1Q11 is the result in part of amortized loans and a reduced balances with suppliers. Grupo Posadas announced on June 27, 2011 that its main shareholders had reached an agreement to increase the capital of the company during the third quarter of this year in an amount to exceed fifty million US dollars as an alternative to other options aimed at strengthening its capital structure. For more information please contact: Gerardo de Prevoisin Tel.: (5255) 5326-6757 gerardo.deprevoisin@posadas.com

> Development Our development plan is comprised of 43 hotels with 5,742 rooms that represent an increase in capacity of approximately 30%. These hotels are expected to open by December of 2013 according to commitments made with the different owners and represent a total investment of US$334 million of which 99% will be made by third parties. Currently, these hotels are either under construction or with executed agreements. 3 The high number of expected openings is a signal of the economic recovery and the trust that investors have in Grupo Posadas as it represents a significant increase when compared to the previews couple of years where we opened 4 hotels in average per year. Brands Mexico South America Total % Hotels Rooms Hotels Rooms Hotels Rooms Fiesta Americana 6 915 6 915 16 Fiesta Inn 13 1,783 13 1,783 31 Caesar Park 1 148 1 148 3 Caesar Business 2 279 2 279 5 One hotels 20 2,490 20 2,490 43 Aqua 1 127 1 127 2 TOTAL 40 5,315 3 427 43 5,742 100 Room distribution by contract Total investment US $334 M 85% 3% 12% Leased Managed Owned 1% Posadas Other 99% Openings LTM No. of rooms Type CB Manaus Amazonas 229 Managed FI Zacatecas 146 Managed CB Salvador Bahia 154 Managed FI Insurgentes Sur 174 Leased FI Nuevo Laredo 120 Managed Total 823

> Owned & Leased Hotels Total Urban Coastal % Var. % Var. % Var. 4 2Q11 (QQ) Average No. of Rooms 9,204 (2.1) 8,025 (0.4) 1,179 (12.4) Average Daily Rate 1,106 2.5 1,112 6.9 1,063 (25.4) Occupancy (Var. in pp) 63% 3.5 64% 1.3 57% 15.6 REVPAR 696 8.4 709 9.1 611 2.4 Accumulated 2011 Average No. of Rooms 9,234 (1.8) 7,972 (1.0) 1,262 (6.2) Average Daily Rate 1,135 1.9 1,124 6.6 1,197 (25.8) Occupancy (Var. in pp) 62% 4.0 61% 1.0 65% 22.7 REVPAR 701 9.1 688 8.3 783 13.7 In the second quarter, revenues from this segment represented 51% of consolidated revenues. The 8.3% increase in revenues is attributable to a higher average daily rate (ADR), an increase of 2.5%, and an increase of 3.5pp in occupancy, resulting in a RevPAR increase of 8.4%. The average number of rooms available was lower by 2.1% as a result of transferring the room inventory of the Los Cabos Hotel to the Vacation Club business instead of the Owned and Leased hotels segment. The results of the urban hotels showed a significant improvement compared to the 2Q10; with 0.4% less average rooms operated, a 6.9% increase in ADR with an increase in occupancy of 1.3pp, the RevPAR improved by 9.1%. Average number of rooms available For coastal hotels was lower by 12.4% and showed a decrease in ADR of 25.4% but an increase in occupancy of 15.6pp when compared with the same period of last year, resulted in a RevPAR increase of 2.4%. This shift is attributable to the conversion of three hotels representing 60% of rooms available to the All Inclusive format.

> Management Total Urban Coastal % Var. % Var. % Var. 2Q11 (QQ) Average No. of Rooms 18,545 (1.1) 16,229 2.3 2,315 (20.0) Average daily Rate 1,090 2.6 1,073 6.7 1,221 (14.9) Occupancy (Var. in pp) 61% 3.5 62% 2.7 56% 6.8 REVPAR 666 8.9 664 11.5 680 (3.1) Accumulated Average No. of Rooms 18,671 0.1 16,178 2.6 2,494 (13.8) Average Daily Rate 1,111 2.2 1,072 6.2 1,365 (14.1) Occupancy (Var. in pp) 59% 2.6 59% 1.3 59% 10.2 REVPAR 654 7.0 630 8.6 809 3.7 Includes owned & leased and managed hotels Revenue for the Management business represented 25% of total revenues in the quarter, growing 3.8% over 2Q10 due in part to the strong performance of our hotels. However, the business that manages loyalty programs Ampersand, presented a significant decrease in its contribution during 2Q11 due to the replacement of the previous co-brand card by the recently launched Santander Fiesta Rewards co-brand credit card. We are convinced of its enormous potential in the medium and long term. Short term is ramping up quickly but it requires time to place again enough cards in the market to generate revenues equivalent to those of the previous alliance. 5 The average number of rooms operated recorded a 1.1% decrease in the quarter. Systemwide hotels reported a 2.6% improvement in ADR, which was supported by a 3.5pp higher occupancy, resulting in RevPAR growth of 8.9% and 18.1% in USD. For system-wide urban hotels, we observed an improvement in ADR of 6.7%, which was accompanied by a 2.7pp increase in occupancy to achieve a higher RevPAR by 11.1%. It is worth mentioning that hotels in South America reported a RevPAR growth of 16%, contributing significantly to this result. Coastal hotels showed a decrease of 20.0% in the average available rooms due to the following: (i) in January 2011 the contract to operate the Fiesta Inn Acapulco hotel with 220 rooms was not renewed, (ii) during the 2Q11 the SF South Padre Is. hotel with a 192 rooms was not in operation and (iii) in May of 2011 the room inventory of the Los Cabos hotel started to be managed by the Vacation Club business. ADR decreased 14.9%, but with a higher occupancy rate of 6.8pp, RevPAR decreased 3.1%. During the last twelve months the company has opened five hotels for a total of 823 additional rooms: Caesar Business Manaus Amazonas, Fiesta Inn Zacatecas, Caesar Business Salvador Bahia, Fiesta Inn Insurgentes Sur and Fiesta Inn Nuevo Laredo. Also, during the 2Q11 the management agreements to operate the Fiesta Inn Torreon and the Fiesta Inn Nuevo Laredo hotels were not renewed, for a total of 260 rooms.

> Vacation Club & Other 6 The Vacation Club and Other business mainly include the Fiesta Americana Vacation Club, which represented 94% of this business. Revenues represented 24% of consolidated revenues, an increase of 45.7% compared to the same quarter of the previous year. A smaller number of memberships being cancelled, due in part to the better performance of delinquent receivables in an amount of US$7.0 million and higher sales volume from the KiVac program that was launched one year ago explain the important growth. 2Q11 EBITDA shows an increase of 73.7% when compared to the same quarter of 2010. > EBITDA EBITDA of $307.2 million pesos recorded in the 2Q11 equivalent to 16.1% of total revenues represented an increase of 9.7% compared to 2Q10. For the same period, EBITDA grew 18% in USD to USD$26.4 million. For the last twelve months, EBITDA was $1,019.6 million (US$87.0 million). On a comparable basis, when adding back extraordinary uncollectible accounts from Nuevo Grupo Aeronautico (Mexicana) that were reserved during 3Q10, the EBITDA would have been US$96.8 million representing a 2.5% increase with respect to the same period last year. > Capital Expenditure Capital expenditures during the quarter were $38 million; $20 million were used for maintenance of hotels and corporate purposes and $18 million were used for the Vacation Club business.

> Comprehensive Financing Cost Item 2Q11 2Q10 2011 2010 Interest income (4,060) (5,021) (8,687) (10,664) Accrued interest 121,812 108,829 229,166 222,050 Currency exchange fluctuations (22,974) 53,596 (119,509) (38,347) Other financial costs (products) (19,332) 82,880 (90,327) (42,582) Other financial expenses 12,303 15,153 25,123 56,958 Total Financing Cost 87,749 255,437 35,765 187,415 Figures in thousands of pesos At the end of the quarter, net interest coverage was 2.4 times, 0.8 times lower than that observed in 2Q10, if we adjust the impact of the extraordinary uncollectible accounts recognition from Mexicana, this coverage would have been 2.6 times. Foreign exchange gains along with other financial products have benefited by the appreciation of the MXN against the USD of 7.4% from 2Q10 to 2Q11. 7 As of June 30, 2011, the Company still holds margin call deposits for approximately US$18 million, US$3 million less than the end of the 1Q11 due to the MXN appreciation. As of July 28, 2011 the collateral posted in cash was US$17 million. June 30, 2011 Indebtedness SWAPS Cross Currency Notional in: Date in: Date Concept: MXN 000 USD 000 Certificados Bursatiles (Posadas 08) 834,720 4-Abr-13 79,045 4-Abr-13 Certificados Bursatiles (Posadas 08) 677,858 4-Abr-13 65,773 4-Abr-13 TOTAL 1,512,578 144,818 > Net Majority Result As a result of the foregoing, net income for the quarter was $60.0 million representing 3.1% of consolidated revenues.

> Financial Position During the 2Q11, US$1.0 million of our Vacation Club business receivables were discounted under one of our existing credit facilities. As of June 30, 2011 the cash balance of $552 million is $124 million less than the balance reported at the end of 1Q11 due among other items to the amortization of $43 million, the reduction in the balance of suppliers of $76 million and to capital expenditures of $38 million as the main uses of cash. Net debt at the end of 2Q11 was US$453 million. The ratio of net debt to EBITDA is 5.2 times which is 0.95 times higher than that observed in the same quarter last year. If we adjust the impact of the extraordinary uncollectible accounts from Mexicana, Net Debt would be USD$444 million and the Net Debt to EBITDA ratio would be 4.6 times. The net debt mix was as follows: 9.5% short-term, 79% in U.S. dollars and 67% fixed rate. The average life of debt at the end of the quarter was 2.5 years and 16% of it was secured by real estate assets. As of the date of the release of this report, the existing ratings for the 9.25% Senior Notes 2015 and the issuance of Certificados Bursátiles (POSADAS-08) were: Fitch: global Issuer Default Rating (IDR) B and local (Caval) BB +, both with stable outlook. Moody s global scale B3 and a negative outlook. S & P global B- and local (Caval) mxbb, both with negative outlook. 8 > Subsequent Events On July 15, 2011, the Company stopped operating the Fiesta American Leon hotel with 211 rooms as the managing agreement matured. Currently, we are in the process of renewing a $180 million committed line for a twelve month period including an additional amount of $20 million that has already been granted by the lender for a total size of $200 million, also we are renewing a factoring line for $70 million including an increased amount also being authorized by the lender to reach $100 million, these resources will be applied for working capital purposes.

> Grupo Posadas as of June 30, 2011 Grupo Posadas is the largest Latin-American hotel operator. Posadas operates 110 hotels and 19,287 rooms in the most important and visited urban and coastal destinations in Mexico (86% of total rooms), Brazil(11%), the United States(1%), Argentina(1%) and Chile(1%). Approximately 85% of rooms are in urban destinations and 15% in coastal. Grupo Posadas operates under the following top of mind brands: Live Aqua, Fiesta Americana Grand, Fiesta Americana, Fiesta Americana Vacation Villas, Fiesta Inn (FI), One Hotels in Mexico and Caesar Park, Caesar Business in Brazil, Argentina and Chile. Room Distribución 9 49% 35% 16% Leased Managed Owned 3,184 rooms 9,363 rooms 6,740 rooms Brand Mexico Brazil USA Argentina Chile Total Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Hotels Rooms Live Aqua 1 371 1 371 Fiesta Americana 18 4,964 18 4,964 Fiesta Inn 59 8,655 59 8,655 Caesar Park 3 506 2 247 5 753 Caesar Business 8 1,619 1 142 9 1,761 FA Vacation Villas 4 733 4 733 One Hotels 13 1,635 13 1,635 Other 1 213 1 202 2 415 Total 95 16,571 11 2,125 1 202 2 247 1 142 110 19,287 % 86% 11% 1% 1% 1% 100%

> Income Statement (Million pesos as of June 30, 2011 & 2010) 2Q11 2Q10 Var% 2011 2010 Var% Total revenues 1,831.9 100.0 1,605.6 100.0 14.1 3,548.5 100.0 3,166.8 100.0 12.1 10 Owned & Leased Hotels Revenues 942.9 100.0 870.9 100.0 8.3 1,898.1 100.0 1,694.9 100.0 12.0 Direct cost 837.3 88.8 787.6 90.4 6.3 1,681.5 88.6 1,531.5 90.4 9.8 Contribution 105.6 11.2 83.3 9.6 26.8 216.5 11.4 163.4 9.6 32.5 Management Revenues 449.4 100.0 433.0 100.0 3.8 880.5 100.0 851.4 100.0 3.4 Direct cost 347.5 77.3 286.7 66.2 21.2 662.8 75.3 554.8 65.2 19.5 Contribution 101.9 22.7 146.2 33.8 (30.3) 217.7 24.7 296.6 34.8 (26.6) FA Vacation Club & Other Ingresos 439.6 100.0 301.7 100.0 45.7 769.9 100.0 620.6 100.0 24.1 Costo Directo 306.8 69.8 225.3 74.7 36.2 563.3 73.2 449.8 72.5 25.2 Contribución 132.8 30.2 76.4 25.3 73.7 206.6 26.8 170.8 27.5 21.0 Corporate expenses 33.1 1.8 25.9 1.6 27.8 64.0 1.8 52.2 1.6 22.7 Depreciation / amortization 104.5 5.7 107.2 6.7 (2.6) 230.2 6.5 224.7 7.1 2.4 Goodwill amortization, net 0.0 0.0 0.0 0.0 na 0.0 0.0 0.0 0.0 na Operating profit 202.7 11.1 172.8 10.8 17.3 346.7 9.8 353.9 11.2 (2.0) EBITDA 307.2 16.8 280.1 17.4 9.7 576.8 16.3 578.6 18.3 (0.3) Comprehensive fin. cost. 87.7 4.8 255.4 15.9 (65.6) 35.8 1.0 187.4 5.9 (80.9) Other expenses (revenues) 26.3 1.4 27.8 1.7 (5.7) 56.3 1.6 41.9 1.3 34.3 Result before Tax & Assoc. Co. 88.7 4.8 (110.4) (6.9) na 254.6 7.2 124.6 3.9 104.4 Part. in results of Assoc. Co. 0.9 0.0 0.7 0.0 21.9 1.3 0.0 1.2 0.0 9.7 Result before taxes 89.5 4.9 (109.7) (6.8) na 255.9 7.2 125.8 4.0 103.5 Income taxes 18.5 1.0 18.2 1.1 1.8 22.9 0.6 23.1 0.7 (0.7) Deferred taxes 9.7 0.5 (56.6) (3.5) na 53.9 1.5 18.7 0.6 188.2 Consolidated net result 61.3 3.3 (71.3) (4.4) na 179.1 5.0 84.0 2.7 113.3 Minority interest 1.3 0.1 7.4 0.5 (82.1) 10.0 0.3 12.9 0.4 (22.4) Net Majority result 60.0 3.3 (78.7) (4.9) na 169.1 4.8 71.1 2.2 137.8 Grupo Posadas shares are quoted and traded on the Mexican Stock Exchange since 1992 under the ticker names POSADASA & POSADASL; in addition, series A & L are quoted and traded in the U.S. in the POR- TAL system under the ticker names GRPALP and GRPYP, respectively. posadas.com

> Consolidated Balance Sheet (Million pesos as of June 30, 2011 & 2010) 11 June-11 % June-10 % Var. (%) ASSETS Current Cash & marketable securities 552.2 4.1 421.7 3.2 31.0 Notes & accounts receivables 2,018.6 15.0 1,639.1 12.4 23.1 Inventories 125.7 0.9 121.0 0.9 3.9 Other assets 83.7 0.6 92.4 0.7 (9.4) Total current assets 2,780.2 20.6 2,274.2 17.2 22.2 Long Term Notes receivables 880.6 6.5 957.6 7.3 (8.0) Other investments & Investments in shares of subsidiaries and Assoc. Co. 531.6 3.9 490.7 3.7 8.4 Property and equipment, net 8,716.4 64.7 8,869.3 67.2 (1.7) Intangible and deferred assets 564.2 4.2 604.8 4.6 (6.7) Total Assets 13,472.9 100.0 13,196.5 100.0 2.1 LIABILITIES Current Suppliers 415.8 3.1 438.3 3.3 (5.1) Bank loans 548.2 4.1 27.0 0.2 1,928.6 Stock market loans 0.0 0.0 0.0 0.0 0.0 Other current liabilities 1,063.9 7.9 1,578.6 12.0 (32.6) Total current liabilities 2,027.9 15.1 2,043.9 15.5 (0.8) Long Term Bank loans 622.7 4.6 358.2 2.7 73.8 Stock market loans 4,594.8 34.1 4,781.3 36.2 (3.9) Otros liabilities 1,787.9 13.3 2,049.6 15.5 (12.8) Deferred credits and Other 185.9 1.4 172.2 1.3 8.0 Total Liabilities 9,219.2 68.4 9,405.2 71.3 (2.0) Stockholders Equity Majority stockholders equity 3,592.6 26.7 3,139.3 23.8 14.4 Minority interest 661.1 4.9 652.0 4.9 1.4 Total 4,253.7 31.6 3,791.3 28.7 12.2 Total Liabilities and Stockholders Equity 13,472.9 100.0 13,196.5 100.0 2.1

> Consolidated Cash Flow Statement (Million pesos as of June 30, 2011 & 2010) Accumulated 2011 2010 12 Consolidated Net Income Before Taxes 255.9 125.8 + (-) Items that do not require the use of cash (242.3) (290.5) + (-) Other items (242.3) (290.5) + (-) Entries related to investments 233.6 244.1 + Depreciation and amortization for the year 230.2 224.7 + (-) Gain or loss on sale of property, plant and equipment 13.5 31.3 + (-) Participation in associated and joint business (1.3) (1.2) (-) Interest income (8.7) (10.7) + (-) Entries related with external financing 229.2 222.1 + Accrued interests 229.2 222.1 + (-) Other items 0.0 0.0 Cash generated (used) in operating activities (449.6) 2.4 + (-) Decrease (increase) in accounts receivables (278.0) 233.7 + (-) Decrease (increase) in inventory 0.7 2.9 + (-) Decrease (increase) in other accounts receivables and other assets (26.2) (22.0) + (-) Increase (decrease) in supplier accounts (163.3) (103.4) + (-) Increase (decrease) in other liabilities 22.8 (71.9) + (-) Profit taxes paid or returned (5.5) (36.9) Net cash from investment activities (5.1) (362.3) (-) Stock investments of permanent nature 0.0 0.0 (-) Investment in property, plant and equipment (69.5) (87.3) + Dividends received 0.0 0.0 + Interests received 8.7 10.7 + (-) Other items 55.8 (285.6) Net cash from financing activities (47.2) (177.6) + Bank financing 473.5 2,547.3 + Stock market financing 0.0 0.0 + Other financing, includes margin calls 115.8 43.9 (-) Bank financing amortization (381.7) (1,831.8) (-) Stock market financing amortization 0.0 (459.8) (-) Dividends paid 0.0 (113.9) + Premiun on sales of shares (10.0) (0.2) + Contribution for future capital increases 0.0 (89.4) (-) Interest expenses (240.6) (127.8) (-) Repurchase of sales 0.0 (0.0) + (-) Other items (4.2) (145.8) Net increase (decrease) in cash and cash equivalents (25.5) (236.1) Cash and equivalents at the beginning of period (Dec. 31, 2010) 577.6 657.8 Cash and equivalents at the end of period (Jun. 30, 2011) 552.2 421.7