Hotels merger would create Spain’s biggest group

NH HOTELS: Rho hotel in Milan with two inclined towers by architect Dominique Perrault NH HOTELS: Rho hotel in Milan with two inclined towers by architect Dominique Perrault Shutterstock

A FAMILY-OWNED Spanish hotel group has made a €2.2billion takeover bid for a rival chain.

The NH Hotel Group, which operates nearly 400 hotels in 31 markets worldwide, confirmed the takeover offer from Grupo Barcelo, which has over 230 hotels in 21 countries.

The merger would create the biggest hotel group in Spain with 600 hotels around the world with annual revenues of about €3.7bn.

At its current share price of €5 euros per share, NH has a market value of €1.75 billion.

The stock exchange suspended trading in NH shortly before a statement to the markets today. 

NH (Navarra Hotels)  was founded in 1978 by Antonio Catalán and was named after the region in Spain.

The Barcelo Group has its headquarters in  Palma, Mallorca.

Comments (0)

There are no comments posted here yet

Leave your comments

Posting comment as a guest. Sign up or login to your account.
0 Characters
Attachments (0 / 3)
Share Your Location

Poll of the Week

Do you send online Christmas cards?

Create Spain Alert

Do you want to be the first to receive our latest news from Spain? Subscribe here.

Latest Tweets

From IFTTT
European Union dedicates Princess of Asturias Award to Portugal and Spain https://t.co/c0azqLbybY https://t.co/yMaxIxiqX1
From IFTTT
Two policemen killed by 'ex-soldier from eastern Europe' as fatal shootout shocks Spain https://t.co/e8L78ULiDq https://t.co/Ti67UZVS6i
From IFTTT
Ryanair to recognise pilot unions in the hope of avoiding Christmas strike https://t.co/GivHkchFhH https://t.co/kp9h3InmpS
Follow Euro Weekly News on Twitter

Post Gallery

LEO THE LION: Treasuring every moment…

Ryanair announce flight cancellations due to air traffic control strike in France

Family of four-year-old cancer boy issue urgent  appeal for help

EXCLUSIVE: Brit issues warning after being robbed in broad daylight in Costa Blanca

Axarquia council cat cull questioned

Police smash animal trafficking network in the Balearics

Icelandic airline to launch daily flights between Spain and UK

Spain's government challenges 'bloodless bullfighting' law

Spain celebrates glittering Michelin 2018 stars in restaurant awards