NH Hotel Group and Minor International will jointly open 50 hotels

NH Hotel Group will open 27 hotels in Europe and America in the next 24 months, representing a total of 4,471 new rooms

(NH Hotel Group)

NH Hotel Group and its majority shareholder, Minor International, will promote synergies and intensify the expansion of their eight brands -NH Hotels, NH Collection, nhow, Tivoli, Anantara, Avani, Elewana and Oaks- over the next two years, with the opening of 50 new hotels in the world, representing a total of 10,106 rooms.

The NH Hotel Group revenue figure in 2022 will be close to 1,750 million euros, higher than that reported in 2019 due to the solid commercial strategy focused on prices. Between April and December 2022, without the impact of omicron in the first quarter of that year, the EBITDA or gross operating result was also higher than the same period in 2019, due to the sustained reactivation of the leisure and business client and the strict control of costs. Including the impact of the first quarter, EBITDA for the full year will be around 85% of 2019.

The strong cash generation in 2022 has made it possible to accelerate the debt reduction that began in 2021.

As a consequence, the net financial debt in 2022 was reduced by around 250 million euros to levels close to 315 million euros, compared to the 568 million reported at the end of 2021.

It should be noted the early repayment in 2022 of 200 million euros of the ICO loan, equivalent to 80% of the total amount of said loan, and the solid liquidity maintained by the Group of more than 565 million euros at the end of 2022.

In relation to the occupancy of 2022, this will be around 60%, lower than that of 2019 due to the negative impact of the first quarter. In relation to competitors, the flexible strategy during the first quarter has allowed the market share to increase by 1 percentage point compared to 2019. Average revenue (ADR) will be at levels close to 120 euros per day, between 15-20 % more than in 2019 and also above the result relative to competitors in 2019.

On this financial basis, NH Hotel Group aspires to become one of the most active hotel players in Europe and Latin America in the coming years, with 27 new openings planned between 2023 and 2024 in the territory in which it operates. These are distributed among three hotels of the luxury brand Anantara (Anantara The Marker Dublin, Anantara Convento Di Amalfi and Anantara Royal Vila Viçosa Resort), three Tivoli hotels (Tivoli Alvor Algarve Resort, Tivoli La Caleta Resort and Tivoli Doelen), four hotels NH Collection (NH Collection Frankfurt Spin Tower, NH Collection Cagliari, NH Collection Milano Touring and NH Collection NH Collection Bodega Sogevinus), 3 nhow (nhow Lima, nhow La Dehesa, in Santiago de Chile, and nhow Rome) and seven NH Hotels ( NH Bern The Bristol, NH Dona Ines Coimbra, NH Mexico City Reforma Centro, NH La Perla Aguascalientes,

These additions -which represent an increase of 4,471 more rooms in the NH Hotel Group offer- also include the seven new Avani establishments planned until 2024 in Europe and Latin America (Avani Alonso Martínez, Avani Palazzo Moscova, Avani Rio Novo, Avani Frankfurt City, Avani Museum Quarter, Avani La Boheme and Avani Cancun). This upper-scale brand, aimed at young travelers, is characterized by its hotels with disruptive and functional designs, located in urban centers and offering differential services. Avani will arrive in Spain in May 2023 with the opening of the Avani Alonso Martínez hotel in Madrid.

The CEO of NH Hotel Group, Ramón Aragonés, has highlighted "the cost control and management effort made by the group in the last two years, which has now made it possible to change the pace to take advantage of the synergies with Minor International and grow strongly in the world. The upper-upscale and luxury tourism segments have been proving especially thriving, and there we have a very powerful and internationally consolidated combined offer. As Asian travelers join the world's great tourist routes, we are in a position to offer them a differential brand architecture, well known and appreciated internationally”, affirms the manager.

Ramón Aragonés has also explained that the EBITDA or gross operating result between April and December 2022, without the omicron effect, has been higher than that of the same period of 2019. "We are satisfied with the reduction in record time of a relevant part of the debt incurred during the pandemic. Cost containment, debt reduction and the evolution of results allow us to rule out sales of strategic assets. In addition, they put us in an excellent position to grow through strategic agreements with large international hotel owners”, explains Aragonés. “We already have almost thirty hotel openings planned for these two years. We are going to be very active until we complete a differential and very balanced offer between urban and tourist destinations that are always emblematic, and of quality”, assures Aragonés.

For its part, Minor International, MINT, holder of 94.1% of the shares of NH Hotel Group, will open 23 hotels under the NH Hotels, NH Collection, nhow, Tivoli, Anantara and Avani brands in the next 24 months, in the territories where it operates. Of these openings, seven will mean the first openings of the NH Collection brand in Asia (two in Qatar, two in Dubai, two in China and one in Thailand, with a total of 2,122 new rooms) and four will mean the arrival of NH Hotels & Resort to that continent (three in China and one in Thailand, with a total of 847 new rooms).  

Ramón Aragonés also highlighted the advances made in terms of digitization in the company, such as the Mobile Guest Service, through which customers can have hotel services at their fingertips with the stay web app, and the installation of tablets at receptions, with the significant savings in paper that this entails. Likewise, the hotels have become pet friendly, with a new pet policy in the chain that allows cats and dogs to stay in practically all our hotels with specific amenities for them.

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