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[In image] Minor invests more in NH Hotel Group

The partnership is growing between the hotel group and the investor. The Asian group wishes to invest more in the hospitality business alongside its activity in F&B and Lifestyle brands.

Dillip Rajakarier, CEO Minor Hotels, commented, “This investment represents a significant milestone for Minor Hotels. We are excited by the opportunity to accelerate our global exposure with our investment in NH Hotel Group, which has a highly complementary business and asset portfolio to MINT. The investment is financially attractive, with high liquidity on the Madrid Stock Exchange and proven performance by the business. Over the past few years, NH Hotel Group’s board of directors and management team have re-invigorated the business and delivered strong business performance in line with its five-year strategic plan. As a key shareholder in the business, we look forward to supporting the management team as a strategic shareholder to continue this success and build long-term shareholder value for NH Hotel Group and its shareholders including MINT. MINT can also support the NH hotels with its food & beverage expertise where appropriate to maximize financial performance and enhance customer experience.”

Minor International has reached an agreement to acquire 30,000,000 shares in NH Hotel Group in a transaction valued at EUR 192 million, which together with its existing shareholding will increase MINT’s stake in NH Hotel Group to 8.6% on a fully diluted basis. The group also has assets in companies such as Gap, Banana Republic, Etam Paris and Burger King. The company claims over 150 hotels and resorts and 2,000 restaurants in 32 destinations worldwide. Among all its assets, Minor Hotels represents 63% of its EBITDA contribution for 53% of revenu.

NH Hotel Group managed to strengthen its partnership with Minor International as, in the meantime, HNA is still willing to sell its 29.3% (end 2017) shares.

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