Minor International has acquired 30,000,000 shares in NH Hotel Group as part of a €192-million deal. The new investment, along with MINT’s existing shareholding, will increase the company’s stake in NH Hotel Group to 8.6 percent.
The investment in NH Hotel Group marks the growth of MINT’s presence in Asia, Australia, the Middle East and Europe. It follows the company’s 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 guestrooms across 30 countries in Europe, the Americas and Africa. The properties will continue to operate under NH Hotel Group’s brands, including NH Hotels, NH Collection Hotels, Nhow Hotels and Hesperia Resorts, following the investment.
“The investment is financially attractive, with high liquidity on the Madrid Stock Exchange and proven performance by the business,” Dillip Rajakarier, CEO of Minor Hotels, said in a statement. “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.”
MINT has not planned any management changes at NH Hotel Group in connection with the investment in the hotel group. However, key shareholdings of NH Hotel Group may change ownership in the near future.
MINT will add NH Hotel Group’s properties to its portfolio of 161 hotels and serviced suites. These operate under the Anantara, Avani, Oaks, Tivoli, Elewana, Marriott, Four Seasons, St. Regis, Radisson Blu, The Beaumont and Minor International brands in 26 countries in Asia-Pacific, the Middle East, Africa, the Indian Ocean, Europe and South America.