Brief: NH Hotels Sees Q2 Revenue To Increase By Over 100 Mln Euros Vs Q2 2019

Minor Hotels Europe & Americas SA

29/06/2023 16:42

June 29 (Reuters) - NH Hotel Group SA  NHH.MC :
    * SEES SECOND-QUARTER REVENUE TO INCREASE BY MORE THAN 100
MILLION
EUROS COMPARED TO 2019
    * AVERAGE OCCUPANCY ACROSS NH’S HOTELS CONTINUES TO IMPROVE
MONTH
AFTER MONTH THIS QUARTER AND IT IS NOW CLOSE TO 2019 LEVELS
    * EBITDA IS SET TO GROW BETWEEN APRIL AND JUNE 2023, DRIVEN
BY
STRONG PERFORMANCE IN KEY MARKETS ACROSS BOTH LEISURE AND
CORPORATE SEGMENTS
    * PLANS TO OPEN 1,900 ROOMS BETWEEN 2023 AND 2026,
CONCENTRATED IN
UPPER SEGMENTS, UNDER MIX OF MANAGEMENT CONTRACTS (89% OF TOTAL)
AND VARIABLE LEASE AGREEMENTS (REMAINING 11%)
    * PLANS TO INCREASE ITS PRESENCE IN KEY MARKETS: 30% OF NEW
ROOMS
WILL OPEN IN PORTUGAL, 15% IN SPAIN, 14% IN ITALY AND REMAINING
41% IN LATIN AMERICA

Source text: https://tinyurl.com/ysd2vzbm
Further company coverage:  NHH.MC 

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