Spanish hotel group invests EUR 133.2 M in Portugal

Spanish hotel group invests EUR 133.2 M in Portugal - Portugal Business News

Portugal tourism news - Spanish hotel multinational, NH Hotel Group, invests EUR 133.2 million in Portugal.

Spanish hotel group NH Hotel has acquired a portfolio of 5 hotels in Portugal that was sold by Thai Minor Group.

The hotels that are now owned and managed by the NH Hotel Group in Portugal are:

1 - Anantara Vilamoura Algarve Resort, with 260 rooms

2 - Tivoli Lagos Algarve Resort, with 296 rooms

3 - NH Marina Portimão, with 196 rooms

4 - NH Sintra, with 77 rooms

5 - The Residences at Victoria, with 45 rooms

With this operation, the Spanish multinational will consolidate a portfolio of hotels that represents an expected incremental contribution to the EBITDA of approximately 11 million euros for the 2024 income statement.

The new acquisition in Portugal will strengthen the growth strategy of NH Hotel Group by expanding its diversified portfolio, that includes owned, rented and managed hotels.

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