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NH Hoteles updates its network

NH Hoteles has launched a plan to reposition itself by renovating its establishments through an investment plan ranging between 200 and 220 million euro. The hotel group will implement a new segmentation of its supply under its NH umbrella brand, split between three labels: Premium, NH+ and NH. The group's new strategy will also be focused on selling several of its 85 owned hotel assets, from a total of 386 operated establishments. Hotels which do not correspond to the group's new product will exit the network. Others will be sold and placed under management contracts. The group expects net proceeds of 152 million euro in 2014 from its assets disposal program.With the update to its portfolio, NH Hoteles hopes to increase its Revenue per available room and raise its profitability back up, after having ended 2012 with a loss of 292.1 million euro.

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