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History

The history of NH is made up of growth, plant growth, quality and prestige over its 40-year history. Today it is a reference operator in urban hotels in Europe and Latin America. Operates more than 350 hotels in 28 markets, including major city destinations such as Amsterdam, Barcelona, ​​Berlin, Bogota, Brussels, Buenos Aires, Düsseldorf, Frankfurt, London, Madrid, Mexico City, Milan, Munich, New York , Rome and Vienna.

FIRST STEPS: THE NH BRAND IS BORN AND EXPANSION IN SPAIN

The beginnings of the NH Hotel Group date back to 1978, when it opened its first establishment: the Ciudad de Pamplona hotel. Four years later, the chain moved beyond the Navarre region: by adding NH Calderón de Barcelona to its portfolio, it took the first steps towards national growth, an expansion that would gain momentum throughout the 1980s.

Just a decade after its founding, the Company manages hotels in Madrid, Barcelona and Zaragoza, consolidating itself as one of the leading Spanish chains. Corporación Financiera Reunida, SA (COFIR) became the Company's main shareholder in 1988.

1990: CONSOLIDATION OF THE NH MODEL

At the end As of 1995, NH was already one of Spain's leading urban hotel chains, with 54 properties located across the country. In that year, NH Hoteles began to manifest its strategic commitment to culture with the launch of what is now known as the Mario Vargas Llosa NH Short Story Award, which aims to assist novice writers and encourage reading and the process. of literary creation.

1996 and 1997 were instrumental in defining the company's future. Parallel to the exit of Grupo De Benedetti from the list of shareholders, COFIR initiated a radical change of strategy, deciding to concentrate and consolidate the activities carried out by its main subsidiaries, including NH Hoteles SA. It is in this scenario that COFIR has acquired 100% of the capital of NH. A year later, this new strategic direction culminated in the merger of the former COFIR and NH Hoteles. The new company, which takes the name of NH Hoteles, is launched on the stock exchange. These were also the years in which the network launched one of the initiatives most closely linked to the quality of its services and the development of its employees, an initiative that continues to thrive even today: the corporate university, known as NH University, born to provide comprehensive services ,

As part of its strategic efforts to promote culture, in 1998 the chain launched NH Stock Art, traveling exhibitions near the Group's hotels in an effort to support the work of new artists. This was also the year the Group launched its corporate website, www.nh-hoteles.com, adding a new direct sales channel.

The end of the decade also marked the beginning of the Society's international expansion. In 1998 the chain was founded in Latin America and in 1999 began its adventure in Europe following the acquisition of a stake in Jolly Hotels (19.1%). It was also the year he formed a strategic alliance in MERCOSUR to invest in Latin America through the creation of the Equity International Properties fund. The company now operates 88 hotels and this growth trajectory was highlighted by its debut in the Spanish blue chip equity index, the IBEX 35.

In 1999, NH Hoteles also acquired 91.5% of Sotogrande, a company dedicated to developing premium residences designed for family life.

GEOGRAPHICAL EXPANSION AND GROWTH

In 2000, the company acquired the Dutch hotel chain Krasnapolsky, an operation that doubled. As a result of this deal, NH had 168 hotels, 7,300 employees and a presence in 15 countries, with Portugal soon joining the fray. This has positioned the company as the third largest hotel chain in Europe and has made it the star in most of the city's top destinations.

The acquisition of the Mexican hotel chain Chartwell in 2001 added another 14 establishments. At this juncture, the company has decided to operate worldwide with a single brand and integrate its nine existing sales offices located around the world.

In 2002, NH continued its international growth strategy driven by mergers and acquisitions by acquiring the German chain Astron Hotels, which added 46 hotels in Germany, six in Austria and one in Switzerland to its expanding portfolio.

In 2004, the chain entered other new markets. With 240 hotels and 35,000 rooms in 18 countries in Europe, Latin America and Africa, NH Hoteles entered the Italian, Romanian, British and French markets in 2004 and 2005. In the latter two markets, the chain opened its first hotels in London and Lyon respectively. In 2006 the company surpassed 14,000 employees and the chain became the undisputed industry leader in Italy after the acquisition of the local hotel chains Framon and Jolly. That year, in Milan, the Group opened its first nhow, a new class of hotels aimed at a contemporary, sophisticated and cosmopolitan clientele. Having received the Príncipe Felipe Award for Excellence in Tourism and named the best workplace in Spain, the Netherlands and Germany, NH Hoteles started 2007 with 341 hotels in 21 countries on three continents,

In 2009, NH and the Spanish chain Hesperia decided to merge their respective hotel management businesses. Through this transaction, NH Hoteles took over the management of the 51 hotels owned and operated by Hesperia at the time.

In the same year, NH created a cooperation platform for purchasing. The platform, called Cooperama, was designed to serve other networks, increasing the competitiveness of the sector. Over the years, NH Hoteles has continued to receive praise in almost all of its lines of initiative. As an illustration, the room designs have received the European Hotel Design Awards in London.

NEW PRODUCTS, COMMITMENT TO SUSTAINABILITY AND INTERNATIONAL CONSOLIDATION

In recent years, the Group's tireless environmental commitment has emerged as one of the pillars of the articulation of all the Company's initiatives. In 2010, NH Hoteles launched a pioneering product, Ecomeeting, in the MICE segment.

Ecomeeting is a sustainability-oriented concept for the organization of events, congresses and conferences that implies an ecological use of energy resources, as well as the use of fair trade and low impact products. In the same year, the company again innovated with the NH Sustainability Club, an in-house study center for the creative development of environmentally friendly products and services. At the same time, the Company has progressed in customer management by centralizing reserves in the main operating markets. Also in 2010, the Company received numerous awards for various aspects of its corporate responsibility commitment, including awards for its involvement in community projects, its employee motivation initiatives and efforts to engage its suppliers in developing ecological projects.

In 2011, NH Hoteles was positioned as one of the top 25 hotels in the world and one of the leading chains in Europe, with around 400 properties and 60,000 rooms.

In 2012, NH Hoteles articulated a new corporate governance model, appointing a new non-executive to the presidency of its highest governance body and a new CEO, thus sharing these roles and duties. This was the new team tasked with delivering the broadest transformation ever undertaken by the Company, a change that began to materialize in 2013.

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