Managua Managua the capital of Nicaragua began in 1824, after the Central American nations formally attained their independence from Spain. Nicaragua became an independent nation in 1838. Managua's location between the rival cities of León and Granada made it a logical compromise site. Hence, Managua was officially selected as the nation's capital in 1852. Between 1852 and 1930, Managua underwent extensive urbanization, becoming a base of governance, infrastructure and services. The city was hampered by major floods in 1876 and 1885. A disastrous earthquake in 1931 and large fire in 1936 destroyed much of the city. Under the rule of Anastasio
Managua the Augusto C. Sandino International Airport, the country's primary international gateway, and regional Los Brasiles airport and Punta Huete military air base, recently renewed. Managua is also home to all of the major banks of the nation, Banco de la Producción (BANPRO), Banco de América Central (BAC), Banco de Finanzas (BDF), Banco de Crédito Centroamericano (Bancentro) and its parent company the Lafise Group. Several new hotels including Crowne Plaza, Best Western, InterContinental, Holiday Inn, and Hilton currently have facilities in Managua. As well as many hotels, Managua has opened four western style shopping centers or malls, such as Plaza Inter,