Minor International (MINT) has announced its recent acquisition of a 25.2 percent stake in NH Hotel Group as part of a two-tranche transaction with HNA Group. The $717.1 million deal follows the company’s earlier purchase of a 9.5-percent shareholding in NH Hotel Group. MINT currently aims its shareholding in NH Hotel Group at nearly 55 percent, and intends for the company to remain a publicly listed company on the Madrid Stock Exchange. The new deal will expand MINT’s European footprint along with the company’s investment in Corbin & King’s UK portfolio last year.
“Today we are embarking on a new era, driving investment strategy to further cement our footprint in the European hospitality industry,” says Minor Hotels CEO Dillip Rajakarier. “We will be able to create a network of over 540 hotels with a reach across Asia, Oceania, the Middle East, Africa and Europe, all of which are important hospitality regions around the world. The business network will allow the two companies to capitalize on our leadership positions in key growth areas, highly complementary asset and brand portfolio, technology platform, and talented employees. MINT can also support the NH Hotel Group with its food and beverage expertise where appropriate to enhance customer experience and maximize revenue potentials. Together, we will be well-positioned to achieve greater success, provide greater value to customers and create more exciting growth opportunities than either company could achieve alone.”
NH Hotel Group comprises 382 hotels and 59,350 keys across 30 countries.
