Best June in NH history doesn’t save hotel company from losses | companies


    Best June in NH history doesn't save hotel company from losses |  companies

NH benefited from the rebound in bookings and the reactivation of travel in the second quarter of the year. Between April and June, the company closed the second quarter with the highest sales in its history, with 190 million euros, even surpassing the record of October 2019 (175 million), which was the month with the figure highest business until this afternoon. Thus, NH closed the first half of 2022 with a turnover of 742.4 million euros, more than triple the 215.9 million for the same period in 2021.

Debt was reduced by 18.4% thanks to cost containment and certain divestments

Good news, slightly marred by the fact that the company failed to recover from losses in the first half. Of the 145.4 million he lost between January and June 2021, he lost 15.4 million. A fact justified by the losses recorded in the first quarter due to the impact of omicron on the company’s activity. “Since March, NH’s hotel business has recovered faster than expected, with excellent business and value for money in all countries where we operate. This advance makes us optimistic about the forecasts for the second part of the year. The price adjustment helps us partially offset inflationary pressures, which are particularly strong in energy or outsourced services such as chastity or laundry. We hope that the current strength in the leisure segment and the robust recovery in business travel will allow us to consolidate the current recovery in the medium term,” he said. Ramón Aragonés, general manager of NH.

And in this consolidation, the restructuring of company accounts will play a key role, with a sharp reduction in debt and an improvement in solvency. Company violated ‘faithful cost control’, liquidated ‘two non-strategic assets’ and low investment profile of significant reduction in liabilities in first half, which fell from 568 million at the end of 2021 to 463 million in June 2022, an adjustment of 18.4% in six months. The company also points to debt refinancing through 2026 and credit rating upgrades by Fitch and Moody’s as key ways to turn around business.

Spain contributed 25% of new sales in the second quarter

in market research Spain seems to be the market that has recovered the fastest, with sales of 129.8 million between April and June, 89.1 million more than in the same period of 2021. This final amount shows that Spain accounted for 25% of new revenues in the second quarter, ahead of Benelux (Belgium, the Netherlands and Luxembourg), where sales increased by 81.5 million compared to the second quarter of 2021.

Original Spanish content


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