• 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 leader in the hospitality industry with over 560 hotels, resorts and branded residences across 57 countries. The group crafts innovative and insightful experiences through its eight hotel brands – Anantara, Avani, Elewana Collection, NH, NH Collection, nhow, Oaks and Tivoli – and a diverse portfolio of restaurants and bars, travel experiences and spa and wellness brands. With over four decades of expertise, Minor Hotels builds stronger brands, fosters lasting partnerships, and drives business success by always focusing on what matters most to our guests, team members and partners.
Minor Hotels is a proud member of the Global Hotel Alliance (GHA) and recognises its guests through one unified loyalty programme, Minor DISCOVERY, part of GHA DISCOVERY.
Discover our world at minorhotels.com and connect with Minor Hotels on Facebook, Instagram, LinkedIn, and YouTube.
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