Minor International and NH Hotel Group plan massive expansion
Lobby at the nhow hotel, Amsterdam.
© Photo provided
Global tourism is rising, and Minor International and its European subsidiary, NH Hotel Group, want to seize the opportunity: they have announced plans for a massive expansion with 50 new hotels worldwide in the next 24 months.
NH Hotel Group will open 27 hotels in Europe and the Americas, with a total of 4,471 new rooms. The openings include three new Anantara luxury brand hotels (Anantara The Marker Dublin, Anantara Convento Di Amalfi and Anantara Royal Vila Viçosa Resort); three new Tivoli hotels (Tivoli Alvor Algarve Resort, Tivoli La Caleta Resort and Tivoli Doelen); and four NH Collection hotels (NH Collection Frankfurt Spin Tower, NH Collection Cagliari, NH Collection Milano Touring and NH Collection Bodega Sogevinus).
NH Hotel Group plans to become one of the most active hotel players in Europe and Latin America in the coming years. Its revenue figure in 2022 will be close to €1,750million, higher than that reported in 2019, with the company saying it had accelerated the debt reduction that it started in 2021. Net financial indebtedness in 2022 was reduced by around €250million to levels around €315million, compared to the €568million reported at the end of 2021.
Minor hotels will open 23 hotels in Asia, increasing its offer with 5,635 rooms. NH and Minor use eight brands (NH Hotels, NH Collection, nhow, Tivoli, Anantara, Avani, Elewana and Oaks) in the hotel market. Minor International owns 94.1 per cent of NH Hotel Group’s shares.
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