Tourism Breaking News
Minor International (MINT) announced that it has acquired 30,000,000 shares in NH Hotel Group in a transaction valued at EUR 192 million, which together with its existing shareholding will increase MINT’s stake in NH Hotel Group to 8.6% on a fully diluted basis. NH Hotel Group is on a strong growth trajectory as it has successfully enhanced operational efficiencies across its group in recent years and is also now benefitting from the improving European macroeconomic outlook, both of which have been reflected in its strengthening financial results and rising ADRs. In particular, its four main clusters, Spain, Benelux, Central Europe and Italy, have been, and will continue to be, the drivers for solid growth going forward. The investment in NH Hotel Group also marks a strategic progression given MINT’s current presence in Asia, Australia, the Middle East and Europe. The investment in NH Hotel Group is a further move into Europe by MINT following its earlier expansion into Portugal and Brazil through the acquisition of Tivoli Hotels & Resorts in 2016, and one that is complementary to the geographical footprint of MINT’s pre-investment portfolio. NH Hotel Group has a portfolio of 382 hotels and resorts with 59,350 keys spanning across 30 countries in Europe, the Americas and Africa. The NH and NH Collection brands have gained fast-growing recognition, particularly in Europe, with the strong potential to expand its footprint and enhance its reputation even further globally.
Read More »Minor to acquire 8.6% stake in NH Hotel Group
