Divestment Losses Amounted to €42 Mn For NH in First Half of 2014

1/09/2014 – Expansion

NH lost a total of €42.8 million in the first half of the ongoing year. In the same period of time in 2013, the hotel chain registered considerable profits due to the sale of  the NH Grand Hotel Krasnopolsky in Amsterdam. Without taking into account the transaction, the group lost €25.4 million, by 10.8% less than a year earlier. Improvement for NH is on its way.

The hotel chain‘s ebitda shrank 13.3% to €45.7 million. The main reasons for that were the sales of several hotels and a decline in benefits from South America. In turn, earnings showed €614.2 million, 1.1% less. By June 30th, NH has left from 25 out of planned 44 hotels. By the end of the year, NH will abandon six establishments more.

Currently, NH‘s shares on the stock stand at 4.08 Euros a share.

 

Original article: Expansión

Translation: AURA REE

48