The real estate funds of Morgan Stanley have taken a 6.35% holding in the capital of NH Hoteles. These funds have a positivily assessed the company's growth expectations and its leading position in Europe.

NH Hoteles SA and Italian hotel chain Framon have signed an agreement to create a joint venture for their Italian operations, Expansion reported, citing unnamed sector sources close to the operation. In January, NH Hoteles said it was in talks to acquire Framon. According to Expansion, the Spanish hotel chain will hold the majority stake in the joint venture and also will manage the new compa...

NH Hoteles has just signed another 3 new "Fast Good" projects in Spain. The new gastronomic culture created by NH Hoteles in collaboration with Ferran Adrià has become a consolidated gastronomic phenomenon since it started out back when the first "Fast Good" opened in the NH Eurobuilding (Madrid). So far the company has opened 3 "Fast Good" restaurants, two in Madrid and one in Santiago de Chile.

NH Hoteles will enter the French market with a new hotel at Lyon's Saint Exupéry airport. This new hotel is part of NH Hoteles' continuing growth and expansion strategy in Europe where it will be present in 20 countries. The hotel, due to open in 2008, will be part of a new area planned opposite terminal 1 of the city's airport.

NH Hoteles has nearly tripled its internet sales compared to last year's figures, after expanding and improving the services of its web site, which first came online in 2004. To make customer access easier, a more personalised page has been set up according to each customer's profile and the access routes have been simplified.

Madrid, NH Hoteles has opened its first hotel in Santiago de Compostela, the NH Obradoiro. The new 5-star hotel will be operated under a lease contract and has involved an investment of €2.5 million for NH Hoteles.

NH Hoteles will open the 5 star hotel NH Gran Casino de Extremadura, in Badajoz, Spain. With this new incorporation NH Hoteles counts with its first hotel in this city and the second one in Extremadura. The NH Gran Casino de Extremadura will be under a management contract and will need a total investment of €31.5 million.

NH Hoteles enters the London market with the Harrington Hall Hotel (www.harringtonhallhotel.co.uk), which has been acquired together with the real estate company Losan. This transaction has involved an investment of 72 million euros, 75% being provided by Losan and NH participating with 25%. The Harrington Hall is a four-star-superior urban hotel located in the South Kensington area (Chelsea), o...

NH Hoteles recorded earnings totalling €42.13 million in 2004, on sales that were 3% higher than the year before, at €953.8 million euros. This year there were no extraordinary earnings, compared to the €28.4 million recorded last year. Operating earnings (EBITDA) were €180 million, 16% higher than in 2003, confirming the upward trend in the business.

NH Hoteles is continuing its expansion plans in Mexico and has already starting operating in a new hotel specializing in business travelers in the City of Puebla, as further proof of its commitment in Mexico. This hotel means that the chain now operates 15 hotels and has, furthermore, four projects in progress in Mexico.