Hotel News Resource - NH Hoteles Hotel Industry News

NH Hotels has converted an impressive nineteenth century mansion in the arts district of Madrid as part of ambitious renovation plans.

NH Hotels' revenues totalled euro 980.5M, a 9.4% rise, and its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) reflected both the strong recovery in the market and the remarkable increase in productivity.

NH Hotels, in line with its spirit of innovation, has become the first Spanish hotel chain to develop a new information and booking application for the iPhone. The new app is now being made available to download free of charge through the Apple Store.

Hotel sales increased 10.2%, to €762.6M, and hotel EBITDA, including the recent additions to the chain in Italy, grew by 11.7%, to €144M

Spanish hotel chain NH Hoteles (NHH.MC) will scale back its three-year expansion plan in the light of weak economic conditions, it said on Wednesday as it posted a 20 percent fall in first half net profit.

NH Hoteles has opened its first hotel in Santiago de Compostela, the NH Obradoiro. The new 5-star hotel will be operated under a lease contract and has involved an investment of €2.5 million for NH Hoteles.

NH Hoteles enters the London market with the Harrington Hall Hotel, which has been acquired together with the real estate company Losan. This transaction involves an investment of 72 million euros, 75% being provided by Losan and NH participating with 25%.

NH Hoteles is continuing its expansion plans in Mexico and has started operating a new hotel in the City of Puebla. Including this hotel the chain now operates 15 hotels in Mexico with four additional projects in the pipeline.

The NH Düsseldorf an der Messe will be the only hotel situated on the fairgrounds of the city

The hotel chain continues its expansion in Eastern Europe after its entrance in Hungary a year ago and in Romania last October