NH Hotel Group earned 90 million in 2019, 11.4% less for atypical minors

Revenue per available room (RevPar) rose 4.9%, mainly due to strong growth in Spain

NH Hotel Group has obtained a net profit of 90 million euros, 11.4% less than the 101.6 million a year earlier, when it was favored by increased asset turnover activity, according to the accounts sent to the National Securities Market Commission (CNMV).

Specifically, the company explained that this reduction is due to the lower contribution of the non-recurring activity in 2019 compared to 2018, which experienced a greater asset turnover activity.

However, the recurring net profit was 103.2 million euros in 2019, which represents a 62.5% growth over the previous year due to the improvement of the business, lower financial costs and despite the net impact of ten million euros. the new international accounting regulations on leases IFRS 16.

This figure means that the group has thus exceeded «the objective committed at the beginning of the year to reach 100 million recurring profit in 2019».

In terms of revenue, the company has registered a growth of 6.1%, up to 1,718 million in the year, including perimeter changes and despite the negative impact of the currency of 19 million.

The CEO of NH Hotel Group, Ramón Aragonés, has described the year as «historic», after reaching record figures in the main operational and financial metrics.

In addition, he highlighted the improvement of the business in Europe with a particularly favorable behavior in Spain, an efficient operational management of the activity and a solvent balance. It has also highlighted the «close and fruitful» collaboration with Minor throughout the year, which has materialized in numerous business opportunities for the Group.

For its part, the recurring gross operating profit (Ebitda) of the year has reached 294 million euros, 12% more, exceeding the target set for the year of 285 million euros.

Revenue per available room (RevPar) rose 4.9%, mainly due to strong growth in Spain (+ 11.7%), explained by the recovery in Barcelona and the «excellent» behavior of Madrid and other secondary cities, as well as the solid evolution in Italy (+ 4.6%) and Belelux (+ 3.4%).

At the end of December, the cash position was 246 million euros. At the end of the period, NH Hotel Group operates 368 hotels and 57,466 rooms.