Standard & Poor's raises the credit rating on NH Hotel Group to “B” with a stable outlook

• Improvements in the Group’s liquidity and stronger operating and financial performance among the reasons for the upgrade of the Group’s credit rating.

• With a stable outlook, S&P expects NH Hotel Group to continue improving its operating performance while controlling its costs, liquidity, working capital and investment in CAPEX.

• NH Hotel Group continues with the positive trend in the perception of its credit quality initiated with the recent rating assigned by Moody’s.

Madrid, August 2, 2016 - Standard & Poor’s has raised its long-term corporate credit rating on NH Hotel Group from “B-” to “B” with a stable outlook, as well as its senior secured debt from “B+” to “BB-”.

In a press release distributed today, Standard & Poor's highlights that the upgrade reflects the significant improvement in the Group’s liquidity and its stronger operating and financial performance, which exceeded the agency expectations, derived from the positive impact of NH Hotel Group’s 5 Year Strategic Plan.

The credit rating agency also considers that the outlook is stable and expects that NH Hotel Group will continue to improve its operating performance while controlling its costs, liquidity, working capital and CAPEX investment.

Last week, credit rating agency Moody’s assigned for the first time NH Hotel Group a corporate family rating of “B2”, thereby confirming the improvement of the Company’s credit quality in the third year of its strategic plan to transform the Company. This plan involves, among others, the repositioning of its portfolio, the optimization of its brands and the implementation of a new revenue management strategy, together with the reduction of its debt leverage.

About NH Hotel Group

NH Hotel Group (www.nhhotelgroup.com) is a consolidated multinational operator and one of the world’s leading urban hotel groups. The Company operates close to 400 hotels with almost 60,000 rooms in 30 countries across Europe, America, Africa and Asia, including top city destinations such as Amsterdam, Barcelona, Berlin, Bogota, Brussels, Buenos Aires, Düsseldorf, Frankfurt, London, Madrid, Mexico City, Milan, Munich, New York, Rome and Vienna.