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NH Hoteles unloads 50 properties

NH Hoteles réduit son réseau international de 13% dans le cadre de son plan de restructuration pour retrouver une rentabilité d'ici l'année 2018. En se séparant d'une partie de son portefeuille, NH Hoteles souhaite se concentrer sur la montée en gamme de son réseau.

NH Hoteles is continuing on its course to regain profitability by 2018. In the framework of its restructuring plan, the Spanish hotel group confirmed the exit of 50 of its establishments, through ending leases and management contracts and through selling unprofitable assets. The group's portfolio will thus decrease from 383 to 333 hotels over the next four years, a 13% decline. Eight of these establishments are located in Spain and Italy. In addition to reducing its network, NH Hoteles has decided to slow down its development program and to cancel 11 projects, representing an investment of 7.13 million euro, six of which are in Spain, two in Italy, one in Hungary and one in the Czech Republic. Since January, the group signed only two new development contracts: one for an opening in Brazil in 2016 and another in the Dominican Republic this year. The group's objective is to reposition itself on the upscale and luxury segments. It expects to reduce its three-star hotel network by 60%, from 80 to 30 establishments, via asset sales, ending contracts, and through conversions and upgrades. Its four-star offer will decline from 279 to 237 hotels, while the brand hopes to reach 52 five-star properties under its NH Collection brand, compared to 19 today.


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