The positive trend across the main European markets, particularly in Spain, drove topline growth 6.1% to €1.72 billion
Revenue per available room (RevPAR) registered growth of 4,9%, driven entirely by growth in the average daily rate (ADR), to €102.30, without affecting occupancy, which was flat compared to 2018
EBITDA1 was €30.9 million higher at €294.1 million (reported EBITDA, including the impact of IFRS 16, was €551 million) thanks to business momentum and cost control, surpassing thus the €285 million objective
The Group’s recurring net profit was €44 million higher at €113.2 million, fuelled by lower finance expenses in addition to the favourable business dynamics, so that it topped the guidance given at the start of the year for €100 million of net profit (reported net profit, factoring in the impact of IFRS 16, was €103.2 million)
Layering in non-recurring items, the Group reported a net profit of €90 million; the year-on-year comparison (-€11.6 million) is affected mainly by higher gains on asset sales in 2018 (+€45 million of non-recurring activity in 2018 vs. 2019)
The Board of Directors plans to ask the Company’s shareholders to approve a gross dividend of €0.15 per share, which would imply an outlay of an estimated €59 million
The Company ended 2019 with a low level of net debt (€179 million) and solid cash position of €289 million, despite capex of €170 million and the dividend from the previous exercise paid during the year
(The Company has become part of a leading global platform alongside Minor, doubling the number of brands it operates, having entered the luxury segment and added new establishments and destinations to its pipeline
At year-end, NH Hotel Group was operating 368 hotels and 57,466 rooms. In addition to the 13 hotels added in Portugal under the scope of the integration agreement with Minor Hotels, the Company opened another 13 new hotels in Andorra, Germany, Belgium, Spain, Ireland, Italy, Chile and Mexico in 2019. The weight of the NH Collection brand within the overall portfolio currently stands at 22%.
The Company continues to upgrade the quality of its asset portfolio: in 2019, it carried out refurbishment work at 36 hotels: 10 in Central Europe; seven in Spain; six in Italy; four in Benelux; two in France; six in Latin America; and one in the USA. NH Hotel Group measures the perceived quality of its hotel guests constantly, using a number of independent sources of feedback, which have been evidencing a continuous improvement in guest ratings year after year. Elsewhere, it is worth highlighting the growing importance of the nhow brand. In early 2020, the Group has opened two iconic establishments under this trademark in London and Amsterdam (nhow London and nhow Amsterdam RAI). Meanwhile, NH Collection is due to make its début in central Manhattan (New York) in the upcoming months, in a privileged location close to the mythical Empire State Building.
Lastly, on 31 December 2019, NH Hotel Group announced an agreement with Covivio, a leading investor in European real estate, for the operation of a unique portfolio of eight high-end hotels in privileged locations in Rome, Florence, Venice, Nice, Prague and Budapest. The agreement will consolidate the Company’s strategic positioning in the luxury hotel segment while reinforcing its leadership in Italy and boosting its presence in key destinations of France and Eastern Europe. Most of the hotels will be rebranded as Anantara or NH Collection establishments in 2020, following a far-reaching repositioning programme being spearheaded by Covivio.
Source : Company