Hyatt has expressed interest in taking over NH Hotel Group and its strong European footprint in Europe, but a rival company’s leadership says that Hyatt’s own interest is too late.
Mark Hoplamazian, president and CEO of Hyatt Hotels Corporation, made his company’s interest in NH Hotel Group formal via a statement posted on that company’s website. Hoplamazian’s statement read as follows:
“Hyatt has a demonstrated track record of making strategic investments to extend the reach of our brands and create value for our stakeholders. In keeping with our growth strategy, we submitted a letter expressing our interest in pursuing a potential acquisition of NH Hotel Group.
We believe that marrying NH Hotel Group’s strong footprint in Europe and select other markets with Hyatt’s global presence would yield a powerful portfolio of brands and network of hotels delivering compelling benefits for guests, owners and shareholders of both companies.
Consistent with our strategy of pivoting to an asset-lighter business model, we see significant value creation for shareholders through a separation of NH Hotel Group’s real-estate assets from its hotel management platform. As a next step, we are seeking to conduct additional due diligence to further inform valuation and determine the optimal approach to a potential offer.”
To hear Hoplamazian tell it, of course, it is in the best interest of both companies for Hyatt to take over NH Hotel Group. Another company who is interested in doing the same, however, has said that Hyatt’s move is coming just a bit too late.
Minor International Also Interested in NH Hotel Group
Minor International executive leadership says that Hyatt’s offer has come to late to stop its own tender offer for the Spanish company NH Hotel Group.
Experts, however, note that a lesson in the recent battle between Marriott and Anbang over Starwood might be that not deal is done and over until it has actually been signed.
More About NH Hotel Group
As noted NH Hotel Group is a Spanish company, and for those who are unfamiliar with it, it is a chain of more than 370 hotels.
This is important because it gives NH Hotel Group a sizable foothold in a desirable European market, a fact that Hyatt noted in the letter it wrote voicing its intent to purchase the company. One thing that observers should also note is that Minor International Pcl is already currently NH Hotel Group’s biggest shareholder, having recently raised its stake in the company to 35.55 percent.
It remains to be seen, of course, what the final outcome of the dueling interests in the company will ultimately be.Let’s take a look at a few projects currently underway by NH Hotels:NH Hotel Burgplatz
Hotel with restaurant, bar as well as event rooms. …[READ MORE]NH Jolly Madison Towers
There are plans to renovate the Jolly Madison Towers hotel …[READ MORE]NH Hotel Mannheim
Hotel with 220 rooms each about 23 sqm size near Luisenpark Mannheim and the new niu hotel Mannheim ID25544 …[READ MORE]More information on NH Hotels hotel projects can be found in the TOPHOTELPROJECTS database. TOPHOTELPROJECTS is the specialized service provider of cutting-edge information of the hospitality industry.