• 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.
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.
About Minor Hotels
Minor Hotels is a global hospitality group operating over 550 hotels, resorts and residences in 56 countries, pursuing its vision of crafting a more passionate and interconnected world. As a hotel owner, operator and investor, Minor Hotels fulfils the needs and desires of today’s global travellers through its diverse portfolio of eight hotel brands – Anantara, Avani, Elewana Collection, NH, NH Collection, nhow, Oaks and Tivoli – and a collection of related businesses. Minor Hotels is rapidly accelerating its global growth ambitions, aiming to add more than 200 hotels by the end of 2026.
Minor Hotels is a proud member of the Global Hotel Alliance (GHA), the world's largest alliance of independent hotel brands, and participates in the GHA DISCOVERY loyalty programme.
For more information, please visit minorhotels.com and connect with Minor Hotels on Facebook and LinkedIn.
Contact details
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- Natasha Rymes
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VP PR & Communications
Minor Hotels Europe & Americas, Anantara & Avani - nrhymes@minor.com
- +34 669 125 918
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- Irene Fernández
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VP PR & Communications
Minor Hotels Europe & Americas, NH, NH Collection, nhow & Tivoli - ai.fernandez@minor-hotels.com
- +34 619 267 690
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- Camilla Coburn
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Director PR & Communications Anantara
Minor Hotels Europe & Americas - cdavis@minor.com
- +351 910 059 714