Fri, 25 May 2018

Thailandís Minor International Increases Stake in NH Hotel Group

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 and Africa.

 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.

NH Collection Palazzo Barocci. Click to enlarge.

 Following 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.

Dillip 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 acquisition of 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.

See latest HD Video Interviews, Podcasts and other news regarding: MINT, Minor, NH Hotel Group.

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
Latest Travel News
Copyright © 1997-2019