Minor International has acquired 8.6% stake in NH Hotel Group, which is the owner and operator of 382 hotels.
Minor International has reached an agreement to acquire 30,000,000 shares in NH Hotel Group in a transaction valued at EUR 192 million (US$225m), which together with its existing shareholding will increase Minor International’s stake in NH Hotel Group to 8.6% on a fully diluted basis.
NH Hotel Group is the sixth largest hotel chain in Europe, and its four main clusters, Spain, Benelux, Central Europe and Italy, are drivers for solid growth going forward.
The investment in NH Hotel Group is a further move into Europe by Minor International, following its earlier expansion into Portugal and Brazil through the acquisition of Tivoli Hotels & Resorts in 2016.
NH Hotel Group has a portfolio of 382 hotels and resorts with 59,350 keys spanning across 30 countries in Europe, the Americas and Africa.
Following the investment, the properties will continue to operate under NH Hotel Group’s brands, including NH Hotels, NH Collection Hotels, nhow Hotels and Hesperia Resorts.
No management changes at NH Hotel Group are expected in connection with this investment.
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