Grupo Hotelero Santa Fe, a Mexico-based hotel operating platform backed by private equity firm Nexxus Capital, has raised MXN1.83 billion (approximately US$98.3 million) in a follow-on primary public offering. The offering took place through a modified Dutch auction on the Mexican Stock Exchange and Chile and Peru under the regulatory terms of the Mercado Integrado Latinoamericano. Nexxus originally invested in Grupo Hotelero Santa Fe through Nexxus Capital Private Equity Fund III. The company will continue increasing the presence of the Krystal brand and capitalizing on growth opportunities through acquisitions, user conversion and property development.