HomeHotelHow did each market contribute to the record achieved by NH?

How did each market contribute to the record achieved by NH?

NH Hotel Group achieved record revenues and profits in 2023 thanks to the strong growth experienced in all regions, hand in hand with better occupancy and high average daily rates (ADR), the chain has reported to the National Stock Market Commission (CNMV).

Southern Europe reached higher occupancy levels, approaching pre-pandemic figures, and both Benelux and Central Europe showed continued improvement.

By business units, in Spain (whose data includes Portugal and France) revenues grew by 16.6% to 592.1 million euros, “due to greater activity and higher prices.” In Madrid, income increased by more than 31.1 million euros, in Barcelona by more than 10.2 million and in secondary cities by more than 31.3 million.

The average hotel occupancy in Spain was 73%, one percentage point lower than in 2019, and the ADR It was 138 euros per night. Operating expenses increased by 13.5% (42.5 million euros), partly explained by the increase in activity. The GOP improved by 41.6 million euros (+21.6%) to 234.5 million and income grew by 14.5%. With all this, EBITDA showed an improvement of 23.9 million euros (+33.7%) to 94.9 million.

In Italy revenues increased by 82.7 million euros (+23.7% compared to 2022), with substantial improvements in Rome (increase of 12.7 million euros), Milan (+18 million euros) and secondary cities (+23.1 million).

NH Hotel Group highlights “the great strength of the Italian ADR which reached 181 euros per night”, while the occupancy was 67%, in line with that of 2019, and the RevPAR reached 122 euros. Operating expenses increased 29.3%, partly due to higher occupancy

The NH Collection Heidelberg is located in a former brewery. Source: Minor Hotels.

In the Benelux countries, revenue grew by 25% compared to 2022 and 12% compared to 2019, reaching 437.9 million euros. The chain highlights the increases in Brussels (+12.9 million euros), Amsterdam (+29.2 million euros), conference hotels (+6.8 million euros) and in Dutch secondary cities (+12 million euros).

The ADR was 155 euros per night, and the average occupancy was 66%, five points lower than in 2019.

In the countries of Central Europe lRevenues increased by 21.2% compared to 2022 and 10% compared to 2019, reaching 440 million euros. In Berlin, income increased by 7.7 million, in Munich by 7 million euros and in secondary cities the increase was 29.6 million.

The ADR of the region was 116 euros per night, occupancy was 66%, seven points lower than in 2019 and the

In the case of the Americas, at real exchange rate revenues grow +16.6 million euros despite the impact of Argentina, up to 134.2 million euros. In that country, income was reduced by 3.5 million euros, including hyperinflation and the depreciation of the local currency.

In the analysis by region, in Mexico they grew +5.4 million euros in local currency. “Including the evolution of the currency (+9%), at the real exchange rate, revenues increased +9.6 million euros (+27.7%).” While in Colombia and Chile, revenues increased by 23.7% in local currency with an evolution of the currency of -3%

RevPAR was 57 euros for the year, with 67% occupancy, while prices rose to 85 euros.

Source: Hosteltur



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