The Spanish market authorities approved the delisting ex-NH Group. It is now a subsidiary to Minor Hotels International. The process began six months prior, and coincided with the publication by Minor Hotels International of its excellent first-half results.
Minor Hotels Group Continental Holding will acquire the 4.1% stake in Minor Hotels Europe & Americas still held by private shareholders.
This delisting marks a significant step toward creating a more efficient, focused and agile organisation. It increases our ability to take advantage of global growth and generate more value for our investors. Dillip Rajakarier CEO of Minor International Group
The approved transaction coincides with the publication of half-year results by Gonzalo Aguilar, CEO of MHE&A, which show Minor Europe & Americas’ revenue at €1.2 billion, up 5%, and a 6% improvement in RevPAR, exceeding €102. Gross margin (EBITDA) amounted to €317 million and net profit for the period rose 58% to €112 million, including €26 million from the sale of assets.
The profitable results enabled a significant reduction in debt (to €114 million) following the early repayment of €400 million in bonds.
Minor Hotels
Minor Hotels, a global hospitality leader with 560 hotels and resorts in 57 countries, is one of the world’s leading hotel chains. The group offers innovative and insightful experiences via its hotel brands such as Anantara Elewana Collection The Wolseley Hotels Tivoli Minor Reserve Collection NH Collection nhow Avani Colbert Collection iStay and iStay. They also have a diverse range of travel experiences, spa and wellness brand, restaurants and bars and other brands. Minor Hotels has over 40 years of experience in building stronger brands and fostering lasting partnerships. They also drive business success through a constant focus on the needs and wants of our guests, employees and partners.
Minor Hotels, a proud member in the Global Hotel Alliance (GHA) It rewards all its customers with a single, unified loyalty program. Minor DISCOVERYGHA DISCOVERY is a part of the GHA.
Explore our world by clicking on minorhotels.com Minor Hotels can be found on Facebook, Instagram, LinkedIn. YouTube.
