Minor Hotels Europe & Americas, S.A
NHH
ISIN ES0161560018 / Valor 10714
Minor Hotels Europe & Americas, S.A
UMushroom community rating:
About company
NH Hotel Group S.A is a prominent hotel chain in Spain with a history dating back to 1978. The company has established a strong reputation in the Spanish tourist industry, consistently ranking among the top companies in terms of corporate responsibility and governance. NH Hotel Group has expanded its presence over the years, with establishments in key cities such as Madrid, Barcelona, and Zaragoza. The company has also been recognized for its environmental excellence and sustainability efforts, receiving awards for its green initiatives. Additionally, NH Hotel Group has been acknowledged for its strong reputation among consumers, ranking in the Top 20 companies with the best reputation in Spain according to the Reputation Institute.
Summarized from source with an LLMView SourceSector: Consumer ServicesLatest Results (26.02.2026):
Minor Hotels Europe & Americas, S.A. — reporting on H1 2025 (and Q2 2025): the group delivered continued top‑line growth and margin recovery. H1 revenues reached €1,206m (+5% vs H1 2024), RevPAR was €102 (+5.9% H1; Q2 RevPAR €122, +4%), reported EBITDA was €317m (+6%), Net Recurring Profit rose to €86m (+30%) and Total Net Profit to ~€112m (+58%). Net financial debt fell to €114m at 30 June and liquidity stood at €669m; the company completed refinancing actions in early July 2025.
Revenues and RevPAR
H1 2025 revenue: €1,206.0m (+€61m / +5% vs H1 2024). Like‑for‑like (constant FX, excluding perimeter/refurbs) revenue grew ~+4% (€37m). H1 RevPAR €102 (+5.9% vs 2024; +3.5% LFL). Q2 revenue €710.5m (+3.7% vs Q2 2024) and Q2 RevPAR €122 (+4.0%; +2.3% LFL).
Profitability — GOP / EBITDA
GOP (EBITDAR) H1 ~€432m (report cites €431.7m) with a c.40% flow‑through. Reported EBITDA H1 €316.8m (+6%); recurring EBITDA excluding IFRS 16 and disposals €177.1m (+~9% vs 2024) with a 23% flow‑through. Q2 recurring EBITDA (ex IFRS16) €164.8m.
Net recurring profit & total net profit
Net Recurring Profit (H1 2025) €86.1m (+€20m; +30%). Total Net Profit H1 €111.9m (reported ~€112m) — up ~€41m or +58% vs H1 2024, helped by asset disposals recognized in Q1.
Regional performance highlights
All European regions saw occupancy gains. Key LFL movements in H1: Spain (+€11m revenue; RevPAR and ADR up), Italy (+€10m), Benelux (+€9m), Central Europe small +€1m (Q2 impact from Euro 2024), LatAm +€5m but FX/hyperinflation dynamics materially affected local‑currency vs consolidated performance (strong ADR in Brazil; declines in Argentina).
Q2 2025 specifics
Q2 revenue €711m (+4% vs Q2 2024). Q2 occupancy 74% (+1.4 p.p.), ADR €165 (+2%) (ADR contributed ~51% of RevPAR growth). Reported Q2 EBITDA €235.0m (+3% vs Q2 2024) and Q2 Total Net Profit €108.3m (+€15.2m).
Balance sheet, debt reduction and liquidity
Net Financial Debt reduced to €114m (from €244m at Dec‑24), driven by asset rotation, operating cash flow and despite €78m ordinary capex in H1. Available liquidity at 30 June €669m (cash €344m + €325m unused credit). On 2 July 2025 the €400m 2026 Senior Secured Notes were repaid using cash and a new €200m Term Loan; a new €200m RCF replaces the prior €242m RCF. Credit ratings from Moody’s and Fitch were withdrawn following the repayment.
Cash flow, capex and disposals
Operating cash flow H1 €144.7m; working capital and VAT movements modest. Capex paid H1 €77.5m. Disposals (sale of two hotels in Q1) generated ~€84.9m of proceeds and drove a large part of the debt reduction and non‑recurring gains (€25.7m non‑recurring items reported in H1).
Key risks / drivers noted by the company
Management cites calendar‑effect comparables (strong events in 2024 affecting Q2 comps), Latin America currency/hyperinflation volatility (notably Argentina), and reliance on continued healthy demand into Q3. Perimeter changes (openings and disposals) materially influenced reported growth vs LFL performance.
Summarized from source with an LLMView SourceKey figures
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3261 M
Market cap (USD)
Daily traded volume (Shares)
6.3 / 6.28
1 day high/low (USD)
52 weeks high/low (USD)
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Ratings & reviews
Todor Todorov
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