The Minor Hotels Europe & Americas group (formerly NH Hotel Group) has experienced double-digit growth, with revenues expected to reach approximately €2.4 billion, marking a 10% increase compared to the previous year.
An Expansion Strategy Strengthened by New Leadership
Gonzalo Aguilar, the new CEO of Minor Hotels in Europe and the Americas, took office after holding a key position at Marriott. With the goal of continuing this growth trajectory, Aguilar expressed his belief that there is still room to increase prices, despite a slight drop in hotel occupancy, which remains below pre-pandemic levels.
In addition to the financial results, Minor Hotels has unveiled its expansion plan for the next three years. The group aims to add 50 new hotels by 2027, bringing its total to around 700 establishments. This ambitious plan is part of a broader strategy to strengthen the group’s presence in key markets, including the UK, France, Greece, Eastern Europe, Brazil, and the US. The group also plans to create new brands to complement its current portfolio, which includes brands such as NH, NH Collection, Anantara, Tivoli, Avani, and nhow.
2024: A Record Year for Minor Hotels
The group announced strong growth in 2024, estimating a recurring EBITDA increase of 15% to 20%, ranging between €375 million and €390 million. This record performance is driven by the increase in room rates, with an average nightly rate of €145, a significant rise compared to 2019. Gonzalo Aguilar stated that the outlook for the future remains positive, with the group still having room to continue raising prices, particularly due to the strong demand from travelers.
Stronger Presence in International Markets
Minor Hotels aims to capitalize on the tourism boom in Europe, Latin America, and the United States. The company is particularly focused on growth opportunities in the luxury segment and large resorts, with specific goals for the Asia, Europe, and US markets. The group has already signed contracts for 18 new hotels in 2024 and is negotiating agreements for 52 more establishments.
