Minor International ups stake in Europe’s NH Hotel Group

Thailand-based Minor International (MINT) has increased its stake in NH Hotel Group, Europe’s sixth largest hotel chain with 382 hotels and resorts spanning 59,350 keys across 30 countries in Europe, the Americas and Africa.

The 192 million euros (US$224 million) purchase of 30,000,000 shares, which together with its existing shareholding, will increase MINT’s stake in NH Hotel Group to 8.6 per cent.

This investment is a further push into Europe by Minor International, following its earlier expansion into Portugal and Brazil through the acquisition of Tivoli Hotels & Resorts in 2016.

Dillip Rajakarier, CEO Minor Hotels, said that the latest investment is “a significant milestone”. “Over the past few years, NH Hotel Group’s board of directors and management team have reinvigorated the business and delivered strong business performance in line with its five-year strategic plan,” he stated in a statement.

Read more...