Post Merger Expansion Plans For NH Hoteles
September 20000 -- HVS International -- NH Hoteles is understood to control 74% of the share capital of the Dutch hotel group Krasnapolsky, following expiration of the deadline in which 98% of Krasnapolsky shareholders accepted NH's friendly takeover bid worth Euro 495 million. NH Hoteles is expected soon to list its shares on the Amsterdam bourse.
Following the merger, the newly formed NH Hoteles plans to develop in key city-centre locations throughout Europe. There are plans to develop a hotel chain in Germany, having already acquired the three-star Hotel Regensurg and the Hotel Trier both of which carry the Tulip Inn brand.
Krasnapolsky also owns the Eden Hotel in Dusseldorf which is currently managed by Best Western, but will be rebranded as a four-star Golden Tulip later this year.
Recently, NH Hoteles has become the second largest shareholder in the Italian company, Jolly Hotels, by acquiring a further 1.6% stake increasing its holding to 20.7%.
There are plans to develop in Switzerland having expressed an interest to purchase the Koolping Hotel and the Union Hotel as well as manage the Hotel Meyrin, close to Geneva Airport. The long-term objective of the growth strategy is to gain critical mass, permitting the group to become more pro-active in the anticipated consolidation of the European hotel industry.
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