Just in:
Meta Earth Official Website Launch: The Pioneer Explorer in the Modular Public Blockchain Domain // Sunshine’s Debut Features Leave Tech World Scratching Its Head // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // Emirates Post Speeds Up Deliveries for GCC with Special Day // Party Nominees Refusing To Contest: Major Perception Threat For BJP // Hope for Respite as UAE Endorses UN Plea for Gaza Truce // AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards // Hullabaloo About Electoral Bonds May End Up As A Whimper Pre And Post Poll // Konica Minolta is named ASEAN 2023 Market Leader in Colour Light and Mid Digital Production Printers // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // No running of govt from jail, says Delhi Lt Governor // Arvind Kejriwal Was Used By BJP In 2011 Movement To Take On The Congress // Lisboeta Macau’s world first LINE FRIENDS PRESENTS CASA DE AMIGO and BROWN & FRIENDS CAFE & BISTRO has officially opened // Arvind Kejriwal Gets International Heft Against The Deshi Vishwaguru // Sharpening the Focus: Sharjah Health Department Refines Evaluation Criteria for “Healthy Schools Programme” // Universal Language for Healthcare: General Authority Embraces Global Coding System // U.S. Compliance Takes Center Stage at OKX Following Industry Jitters // Renewables Surge Sets Record, But Global Equity Lags // HSBC Streamlines Gold Investment for Hong Kong Residents with Tokenized Product // German Job Market Resilience Bodes Well for Economic Recovery //
HomeChannelsBusinessMINT announces NH hotel stake acquisition

MINT announces NH hotel stake acquisition

Minor International( MINT) announced that it has reached agreement to acquire 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 the sixth largest hotel chain in Europe and this investment offers important strategic benefits to MINT which, with its deep hospitality and food & beverage experience, also brings strategic value to the NH Hotel Group. The investment demonstrates MINT’s strategy of pursuing financially attractive investments which are accretive to MINT, with estimated EV/2018EBITDA of 10.6x.

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.

ADVERTISEMENT

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 Group was founded since 1978 and today has become one of the top 25 hotel chains in the world with in-depth expertise in the mid- to upscale segments. 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. NH Hotel Group’s assets are attractive in terms of both location and quality, making the portfolio difficult to replicate. Following the investment, the properties will continue to operate under NH Hotel Group’s well-known brands, including NH Hotels, NH Collection Hotels, nhow Hotels and Hesperia Resorts.

Dillip Rajakarier, CEO Minor Hotels, commented, “This 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 Group’s 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.”

No management changes at NH Hotel Group are expected in connection with MINT’s investment in the company. While MINT takes note that certain key shareholdings of NH Hotel Group may change ownership in the near future, MINT is confident in the underlying business of NH Hotel Group and is excited to work with the team and its fellow shareholders in the company to ensure continued delivery of strong and sustainable returns to shareholders.


Also published on Medium.

ADVERTISEMENT

ADVERTISEMENT
Just in:
Sharpening the Focus: Sharjah Health Department Refines Evaluation Criteria for “Healthy Schools Programme” // Experience Ultimate Shopping Freedom at 4.4 Shopee Spree: Don’t Worry, Shop Shopee! // Emirates Post Speeds Up Deliveries for GCC with Special Day // Superland Announced Annual Results for 2023, 2023 Net Profit Increased approximately 39.5% to approximately HK$22.2 million as Compared to the 2022 Adjusted One // Party Nominees Refusing To Contest: Major Perception Threat For BJP // Experts come together to support updating the city’s nature conservation masterplan // In Lok Sabha Polls In Punjab, AAP Is Advantageously Placed As Against Its Three Rivals // German Job Market Resilience Bodes Well for Economic Recovery // No running of govt from jail, says Delhi Lt Governor // AIA Hong Kong Wins More Than 20 Accolades at MPF Ratings MPF Awards, BENCHMARK MPF of The Year Awards and Bloomberg Businessweek Top Fund Awards // Meta Earth Official Website Launch: The Pioneer Explorer in the Modular Public Blockchain Domain // Renewables Surge Sets Record, But Global Equity Lags // Konica Minolta is named ASEAN 2023 Market Leader in Colour Light and Mid Digital Production Printers // Universal Language for Healthcare: General Authority Embraces Global Coding System // Infineon and HD Korea Shipbuilding & Offshore Engineering jointly develop ship electrification technology // Hullabaloo About Electoral Bonds May End Up As A Whimper Pre And Post Poll // Lisboeta Macau’s world first LINE FRIENDS PRESENTS CASA DE AMIGO and BROWN & FRIENDS CAFE & BISTRO has officially opened // AI Boost for Galaxy Devices: Samsung Expands One UI 6.1 Update // Ajman Celebrates Conclusion of Ramadan Activities with Grand Ceremony // Sunshine’s Debut Features Leave Tech World Scratching Its Head //