Continuing its development strategy in the hotel market, Minor Hotels acquired HNA's shares in the hotel group.
Minor International must now, under Spanish law, launch a takeover bid. With the 8.6% that the investor already held and the 26.5% bought back from HNA, MINT exceeds 30% ownership of shares. MINT plans to acquire 51 to 55% of the capital. NH Hotels Group joined forces with HNA in 2013 to relaunch the investment and implement an action plan that enabled it to refocus and rationalize its activity while giving the properties a second breath.
5 years later, it is the Thai investor's turn to become involved in the group in accordance with its desire to develop its hotel business in Europe in addition to its activity in Asia.“We are embarking on a new era, driving investment strategy to further cement our footprint in the European hospitality industry,” said Dillip Rajakarier, CEO Minor Hotels. “We will be able to create a network of over 540 hotels with a reach across Asia, Oceania, the Middle East, Africa and Europe, all of which are important hospitality regions around the world. The business network will allow the two companies to capitalize on our leadership positions in key growth areas, highly complementary asset and brand portfolio, technology platform and talented employees. MINT can also support the NH Hotel Group with its food & beverage expertise where appropriate to enhance customer experience and maximize revenue potentials. Together, we will be well-positioned to achieve greater success, provide greater value to customers and create more exciting growth opportunities than either company could achieve alone.”
During his interview with Hospitality ON last May, Hugo Rovira confided his enthusiasm at the idea that several potential investors were interested in HNA's shares. It had also entrusted its development ambitions in Europe and in particular in France for the group's brands with a strategy that must perfectly suit the new investor.
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