NH Hotel Group should put little weight on an expression of interest from Hyatt, told Stephen Chojnacki, Chief Commercial Officer and General Counsel at Minor International, to the board of the Spanish hotel operator in a letter on June 29.
Hyatt Hotels Corporation’s proposal to separate NH Hotel’s real estate from its hotel-management business risks stripping away assets and would lead to major cost cutting, Stephen Chojnacki, according to Bloomberg.
Any eventual bid by Hyatt would compete with Minor International’s offer for the Madrid-based chain of 379 hotels, which was announced in early June.
Dillip Rajakarier, Chief Operating Officer of Minor International, said in a July 27 phone interview that Hyatt’s interest in acquiring NH Hotel had come too late stop its own offer from succeeding.
"Hyatt has entered the church and the bride has already left," said Dilip Rajakarier in a phone interview on Friday, July 27. "Our reaction is to continue and complete this transaction."
In an emailed statement, Lucas Martinez, a spokesman for NH Hotel Group, said the board received Hyatt’s letter and would decide how to proceed with Hyatt’s request in the days to come.