Thailandís Minor International (MINT) is to acquire 30,000,000 shares in NH
Hotel Group in a transaction valued at EUR 192 million.
Together with its existing shareholding, the new
shares will increase MINTís stake
in NH Hotel Group to 8.6% on a fully diluted basis.
NH Hotel Group has a portfolio of 382 hotels and resorts with
59,350 keys spanning across 30 countries in Europe, the Americas
The group was founded in 1978 and today is
one of the top 25 hotel chains in the world with in-depth
expertise in the mid to upscale segments.
the investment, the properties will continue to operate under NH
Hotel Groupís well-known brands, including NH Hotels, NH
Collection Hotels, nhow Hotels and Hesperia Resorts.
Rajakarier, CEO Minor Hotels, said, ďThis investment
represents a significant milestone for Minor Hotels. We are
excited by the opportunity to accelerate our global exposure with
our investment in NH Hotel Group, which has a highly complementary
business and asset portfolio to MINT. The investment is
financially attractive, with high liquidity on the Madrid Stock
Exchange and proven performance by the business. Over the past few
years, NH Hotel Groupís board of directors and management team
have re-invigorated the business and delivered strong business
performance in line with its five-year strategic plan. As a key
shareholder in the business, we look forward to supporting the
management team as a strategic shareholder to continue this
success and build long-term shareholder value for NH Hotel Group
and its shareholders including MINT. MINT can also support the NH
hotels with its food & beverage expertise where appropriate to
maximize financial performance and enhance customer experience.Ē
The investment in NH Hotel
Group is a further move into Europe by MINT following its earlier
expansion into Portugal and Brazil through the
Tivoli Hotels & Resorts in 2016, and one that is complementary to
the geographical footprint of MINTís pre-investment portfolio.
No management changes at NH Hotel Group are expected in connection
with MINTís investment in the company, though MINT has stated that
certain key shareholdings of NH Hotel Group may change ownership
in the near future.
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NH Hotel Group.