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Cost control at NH Hotel Group ketp recurring loses at €371 million despite the €1.18 billion revenue drop

NH Hotel Group reported revenue of €539.7 million in 2020, compared to €1.72 billion in 2019, a year-on-year decline of 68.6%, or €1.18 billion. The contingency plan rolled out by the Company from the onset of the pandemic, focused on cash preservation and cost control, successfully mitigated 60% of the impact of the drastic revenue drop at net result.