NH Hotel Group Boosts EBITDA 36% and Posts a Profit for the First Time Since 2011

MADRID, February 26, 2016

- The company's return to profitability validates the business plan -  

After two years investing in repositioning and reinforcement of its organisational, management and communication capabilities, NH Hotel Group heads into year three of its business plan having met the market's growth expectations. Moreover, it expects to top guidance going forward with a larger revenue base, better-positioned hotel portfolio and a significant improvement in perceived quality.

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Reported revenue rose 10.3% to €1.395 million, while EBITDA before onerous provision reversal climbed 35.8% higher to €149.5 million; net profit came in at €0.9 million, compared to the €9.6 million loss reported in 2014.

Business and earnings momentum gained traction as the year unfolded driven by the pricing strategy rolled out: Revenues per available room (RevPAR) rose by 11% last year.

The healthy performances posted by the Spanish and Italian business units last year stand out; these markets have benefitted from the execution of the asset repositioning strategy in the initial years of the business plan. Management expects the Benelux and Central Europe business units to perform better in 2016, as the repositioning works began in these markets during the second quarter of 2015.