The purchase follows MINT’s earlier purchase of a 9.5% shareholding in NH Hotel Group, the group announced in a release issued on Wednesday (June 6). (See release here.)
“Today we are embarking on a new era, driving investment strategy to further cement our footprint in the European hospitality industry”, said Dillip Rajakarier, CEO Minor Hotels.
“We will be able to create a network of over 540 hotels with a reach across Asia, Oceania, the Middle East, Africa and Europe, all of which are important hospitality regions around the world. The business network will allow the two companies to capitalize on our leadership positions in key growth areas, highly complementary asset and brand portfolio, technology platform and talented employees. MINT can also support the NH Hotel Group with its food & beverage expertise where appropriate to enhance customer experience and maximize revenue potentials.
“Together, we will be well-positioned to achieve greater success, provide greater value to customers and create more exciting growth opportunities than either company could achieve alone,” he added.
The share purchase from HNA Group will be in two tranches. The first tranche of 65.85 million shares, representing 16.8% shareholding on a fully-diluted basis, will be completed on or around June 15. The second tranche, consisting of 32.94 million shares or 8.4% on a fully-diluted basis, is expected to be completed in September.
The NH Hotel Group is a world-leading urban hotel operator, listed on the Madrid Stock Exchange. Today, the company operates 382 hotels and 59,350 rooms in 30 markets across Europe, the Americas and Africa, including top city destinations such as Amsterdam, Barcelona, Berlin, Bogota, Brussels, Buenos Aires, Düsseldorf, Frankfurt, London, Madrid, Mexico City, Milan, Munich, New York, Rome and Vienna.
MINT is one of Asia’s largest restaurant companies with over 2,000 outlets operating system-wide in 27 countries under The Pizza Company, Swensen’s, Sizzler, Dairy Queen, Burger King, Thai Express, The Coffee Club, BreadTalk (Thailand), Riverside and Benihana brands, and one of Thailand’s largest distributors of lifestyle brands and contract manufacturing. Its brands include Gap, Banana Republic, Brooks Brothers, Esprit, Bossini, Etam, OVS, Radley, Anello, Charles & Keith, Pedro, Zwilling J.A. Henckels, Joseph Joseph, Bodum and Minor Smart Kids.
MINT as a hotel owner, operator and investor has a portfolio of 161 hotels and serviced suites under the Anantara, AVANI, Oaks, Tivoli, Elewana, Marriott, Four Seasons, St. Regis, Radisson Blu, The Beaumont and Minor International brands in 26 countries across Asia Pacific, the Middle East, Africa, the Indian Ocean, Europe and South America.