NH Hotel Group S.A (ES:NHH) has released an update.
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Minor Hotels Europe & Americas reported a significant growth with a 58% increase in net profit reaching 71 million euros in the first half of 2024, driven by an 11.5% rise in revenues and improvements in both the Average Daily Rate (ADR) and occupancy rates. The company also managed to reduce its net debt by 24 million euros, maintaining solid liquidity and receiving an upgraded credit rating from Fitch. This strong performance, marked by robust demand in both business and leisure travel segments, positions the hotel group for a potential record-breaking year.
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