NH to Open Over a Hundred of Hotels in Next 5 Years

23/01/2014 – Cinco Días

The chain specialized in urban hotels is planning to open more than 100 establishments within 5 upcoming years. “We are confident to exceed the three digits”, says CEO of the NH Hoteles, Federico González Tejera, “however we are not in hurry” and the first investment will involve “mere” 70 hotels.

Several new incorporations are being carried out in South America: two new establishments in Sao Paulo, apart from the ones in Mexico, Buenos Aires, Cuba, Chile and Lima. In Europe the chain is bound to return to Italy, Brussels, Germany, the United Kingdom and Paris. (…).

The NH Hoteles also considers (…) raising new establishments for rent and getting rid of a lot of existing ones (about 30), already spotted by NH Collection, NH Hotels, nhow and Hesperia.

The chain assumes both divestment and investment (of 120 and 225 million Euros respectively) in its hotels (among other investments renovation of 10 establishments in Spain). (…).

Federico González Tejera(…) believes that once the 5-year strategy plan run, “the fruit will be born as soon as in 2015, but the largest ones are expected to appear in 2016”.

Also, he does not seem bothered by the recent changes in shareholding of the company: the leave of Bankia that sold last week 12.6% of the capital and the entrance of UBS with 5.4%, and calls them “irrelevant”.

What is more, the executive considers Madrid “a great opportunity” in the long-term, the soonest looked into closely in 2015. (…).

Original article: Cinco Días (Laura Salces)

Translation: AURA REE

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