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NH Hotel Group buys out Intesa Sanpaolo’s stake in NH Italia

NH Hotel Group signed an agreement with Intesa Sanpaolo under which it will acquire the latter's 44.5% stake in NH Italia in exchange for shares.

NH Hotel Group signed an agreement with Intesa Sanpaolo under which it will acquire the latter's 44.5% stake in NH Italia in exchange for shares. Intesa Sanpaolo set up the Italian joint venture with NH Hotel Group, which owns the remaining 55.5%, in 2007. Accordingly, the deal will entitle NH Hotel Group for the 100% of NH Italia, which is currently active in the hotel business in Italy and the US, as well as operating hotel establishments in Germany, the Netherlands and Belgium.

NH Hoteles operates close to 400 hotels with almost 60,000 rooms in 26 countries across Europe, the Americas and Africa. NH Hoteles currently has 20 new hotels under construction which will add over 2,500 new rooms to its portfolio. NH Hoteles is traded on the Madrid stock exchange.
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