trending Market Intelligence /marketintelligence/en/news-insights/trending/bguzgkbqjlhpt4j3n365tw2 content esgSubNav
In This List

NH Hotel plans €250M bond redemption in Q2, closes €155M hotel sale in Q1

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


NH Hotel plans €250M bond redemption in Q2, closes €155M hotel sale in Q1

NH Hotel Group SA reported its first-quarter sales and results, noting recent activities and plans for the remainder of the year.

During the reporting quarter, the Spanish hotelier said it completed the €155.5 million sale and leaseback of the NH Collection Barbizon Palace hotel in Amsterdam. The 274-room property was sold to German asset manager Deka Immobilien in February, registering a net posttax cash worth roughly €122 million.

The trade was previously noted to result in an estimated accounting gain of €55 million in 2018 and the company will continue to operate the hotel through a long-term lease agreement.

Looking into the second quarter, the board resolved to carry out the early redemption of €250 million of its convertible bonds due November. The redemption will conclude NH Hotel's debt reduction initiative that commenced in 2015

For full-year 2018, the hotel operator confirmed its earnings before interest, taxes, depreciation and amortization forecast at €260 million.