Asian hospitality company Minor International (MINT) has signed an agreement to acquire an 8.6 per cent stake in Europe’s NH Hotel Group.
NH is Europe’s sixth-largest hotel chain with a portfolio of 382 properties across 30 countries in Europe, the Americas and Africa. Founded in 1978, it has grown to become one of the world’s top 25 chains. The company’s brands include NH Hotels, NH Collection Hotels, nhow Hotels and Hesperia Resorts.
MINT says the investment demonstrates its global strategy of seeking attractive acquisitions and improving its European presence. In 2016, it expanded into Portugal and Brazil through purchasing Tivoli Hotels & Resorts.
Dillip Rajakarier, CEO of Minor Hotels, commented: “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 through MINT.”