NH Hoteles and Hesperia agree the integration of the hotel management business and Hesperia joins the Board of NH Hoteles
- NH Hoteles and Hesperia have signed an agreement for the integration of their respective hotel management businesses. This transaction will generate significant synergies both at income and expenditure level, endowing NH Hoteles with greater competitiveness.
- NH Hoteles will manage 51 hotels that are currently owned or operated by Hesperia; thereby NH Hoteles will increase the total number of operating hotels to 400.
- At the same time, Hesperia will join the Board of NH Hoteles.
The agreement aims to consolidate the hotel management business of both groups maximizing synergies through unified management of all hotels and taking advantage of complementary strategies. At the same time, Hesperia will join the Board of NH Hoteles, providing added value to NH Hoteles and hence to its shareholders.
In addition, the Board of NH Hoteles will propose to the Shareholders Meeting both to extend the limitation of voting rights of shareholders to 20% and to reduce to 51% the quorum to modify or remove this limitation, for which an extraordinary shareholder meeting will be convened once the integration is formalized.
Main advantages of the deal:
- NH Hoteles reinforces its strategy to lead the European market in the urban segment and extends its domestic and international presence without recurring to either capital or debt increases, taking into account that the agreement only assumes the management of all Hesperia hotels and not the purchase of their owned or leased hotels.
- Hesperia, with more than 25% stake in NH Hoteles after the last capital increase of July 2009, will join the Board of NH Hoteles and other committees of NH Hoteles
ABOUT NH HOTELES | NH Hoteles (www.nh-hotels.com) ranks third among European business hotels. NH Hoteles currently has 349 hotels with 52,676 rooms in 22 countries in Europe, America and Africa. With this agreement the company will operate 400 hotels. NH Hoteles has at present 54 new projects for hotels under construction, which will provide more than 8,000 new rooms.
NH Hoteles stands out in quality both as regards services and facilities, with very carefully thought out decoration, intended to please all tastes and making the guest feel comfortable. NH Hoteles’ establishments offer the most advanced technologies designed to facilitate the guest’s communication as well as his work and leisure.
The restaurants are another priority for hotels in the Chain, offering guest first-rate cuisine. Furthermore, the prestigious restaurateur Ferran Adrià, creator of El Bulli restaurant, has entered into an association with NH Hoteles, launching new concepts such as “nhube” and “Fast Good”, pioneering spaces in the hotel sector.
NH Hoteles is a responsible company in the Tourism industry. The Chain offer hotel services which anticipate present and future needs of both our internal and external stakeholders (Employees, Clients, Shareholders, Suppliers, Environment, etc.), the communities where we operate and future generations with maximum attention to detail and efficient and sustainable solutions.
NH Hoteles is listed on the Stock Exchange of Madrid.
ABOUT HESPERIA | Hesperia Hotels, with more than thirty years of experience in the hotel sector, has a total of 7.786 rooms in 51 hotels, of which 47 are located in the main cities in Spain, 1 in Andorra, 1 in London and 2 in Isla Margarita (Venezuela).
The wide range of hotels of the group consists of luxury urban hotels in the cities of Madrid, Barcelona and La Coruña; resort hotels with exclusive spa services and golf; urban and leisure hotels. All of them offer an exclusive service and careful customer attention in order to achieve comfortable and high quality stays.
One of the aspects that better defines the Hesperia group is quality, understood in the broadest sense. The Hesperia slogan “We are hoteliers”, not only defines the character of the hotel chain, but also clearly communicates the firm’s commitment in providing its customers a complete quality service in all of its establishments.
Hesperia’s commitment to the haute cuisine began in 2000 with the recognized chef Santi Santamaria and the restaurant Sant Celoni, in the Hotel Hesperia Madrid, that has been awarded with two Michelin stars. The second establishment opened its doors in 2006, led by Santi Santamaria in collaboration with Hesperia, the so-called Evo, located in the transparent dome of the Hesperia Tower Hotel, and awarded with its first Michelin star a few months after.