NH triples its profit in 2018, the year of the disembarkation of Minor

NH triples its profit in 2018, the year of the disembarkation of Minor


MadridUpdated:

NH Hoteles broke all records last year. The group's CEO, Ramón Aragonés, said yesterday in Fitur that in 2018 they had "the best year in history", where they tripled their net profit exceeding 100 million euros and they considerably reduced their debt to less than 260 million. A year earlier this was 900 million. This result is fair in the year of the disembarkation of Minor in the capital of NH. The Thai group made a successful bid and ended up bringing together 94% of the Spanish hotel chain. This union allowed them to be among the twenty chains with the largest number of hotel rooms in the world, count more than 500 hotels and have a presence in more than 50 countries.

For this year, the company's goal is to obtain 285 million EBITDA. In addition, for the next three years NH already has 26 signed hotel projects that would open in that period of time and that intends to expand in Europe and South America. Precisely these two continents are those that will manage after the union with Minor, staying the Thais with the hotels that both companies have in the rest of the world. Thus, NH will have the 15 hotels that Minor has in Brazil and in Portugal.

Slight improvement in Catalonia

For its part, Aragonés was pleased that data in Catalonia has improved in recent months. «We have taken a joy in the last quarter. We have been suffering bitterly for many months, although still we are very far from the levels registered in 2017 before the conflict occurred, "he explained.

While regarding Brexit, the CEO explained that the company is not afraid of the fewer British tourists it may cause because "we do not focus on holiday tourism," although it did warn of the global impact it could cause.

In addition, he took advantage of his participation in Fitur to express a small opinion on the indefinite strike of taxi drivers of Madrid, which are concentrated at the doors of the IFEMA premises. "You have to tell the taxi drivers that you have a crime to come to Fitur to annoy us when we are the largest supplier of customers they have," he snapped.

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