Asian hospitality brand Minor International is acquiring a 8.6% stake in Spanish group NH Hotels for €192 million.
NH Hotel Group is the sixth largest hotel chain in Europe with 382 properties across 30 countries.
Minor International has 161 hotels across various brands in 26 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe and South America.
Thailand-based Minor International sees the investment as offering “important strategic benefits” with its experience in hospitality and food and beverage.
Properties will continue to operate under NH Hotel Group’s brands, including NH Hotels, NH Collection Hotels, nhow Hotels and Hesperia Resorts.
No management changes at NH Hotel Group are expected in connection with the investment.
The deal follows Minor’s expansion into Portugal and Brazil through the acquisition of Tivoli Hotels & Resorts in 2016.
Minor Hotels CEO Dillip Rajakarier said: “This investment represents a significant milestone for Minor Hotels.
“We are excited by the opportunity to accelerate our global exposure with our investment in NH Hotel Group, which has a highly complementary business and asset portfolio.
“Over the past few years, NH Hotel Group’s board of directors and management team have re-invigorated the business and delivered strong business performance in line with its five-year strategic plan.
“As a key shareholder in the business, we look forward to supporting the
management team as a strategic shareholder to continue this success and build long-term shareholder value for NH Hotel Group and its shareholders.”
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