Alphavalue / Divacons | The hotel chain’s General Shareholders’ Meeting held last Friday in Madrid agreed to change its corporate name to Minor Hotels Europe & Americas, stating that it is “a business decision that will allow the company to be recognised worldwide under a single corporate name by its different stakeholders”. However, the brand name will not disappear. NH Hotels & Resorts, NH Collection Hotels & Resorts and nhow…
Alphavalue / Divacons| The hotel chain held its General Shareholders’ Meeting yesterday. The Executive Vice Chairman and CEO of the group, Ramón Aragonés, told the meeting that the revenue estimate for 2Q23 will exceed the figure for the same quarter of 2019 by more than €100 million. In addition, they expect EBITDA to grow between April and June, driven by good results in key markets, both in the leisure and…
Link Securities | The Board of Directors of NH Hotel Group (NHH) held on Thursday agreed to appoint Dillip Rajakarier, CEO of Minor, as the new chairman of the Spanish hotel group, according to elEconomista.es. In addition, NHH’s current CEO, Ramón Aragonés, will also take on the role of vice-chairman, the decision comes after the group’s three independent directors resigned on Tuesday 16 May to express their opposition to the…
Alphavalue | As a European leader in urban hotels, the Spanish chain has experienced a very positive first half of 2019, benefiting from solid momentum in European cities, especially noticeable in the strong recovery in Catalonia. However, the good results have not driven the group´s value, despite very attractive fundamentals, as 94% of the capital in in the hands of MINT (Minor International). The lack of liquidity, together with an unpredictable strategic plan from its Thai owner, have sadly driven investors away.
Last Friday the expected news arrived of the interest of Hyatt Hotels Corp in the Spanish hotel chain. The Chicago based company showed its interest in acquiring NH Hotels, through an alternative (or negotiation money) for the shareholders of NHH to the existing offer of Minor. But just as the offer arrived, it has evaporated and yesterday Hyatt stepped back from its counter bid for NHH.