THURSDAY, March 28, 2024
nationthailand

Euro hotel purchase earns Mint ‘deal of the year’ award

Euro hotel purchase earns Mint ‘deal of the year’ award

Minor International Plc (Mint) on Tuesday (September 24) won the Merger & Acquisition/Portfolio of the Year Award at the Hotel Investment Conference Europe.

The conference, abbreviated to HotE, is Europe’s most prestigious event of its kind for capital markets and investment opportunities in Europe.
Mint was one of three finalists and ultimately the winner for its acquisition of NH Hotel Group.
The 2.5-billion-euro deal was the largest such transaction in the firm’s history, bringing with it the attractive valuation, brand strength and geographic diversity of NH Group’s portfolio of hotels.
Mint said in a press release it prevailed in a takeover battle for NH Group against top global hotel operators and private equity funds to acquire a 94.1-per-cent stake in the company.
“We are delighted and honoured to be recognised for our efforts in the acquisition of NH Hotel Group,” said William Heinecke, founder and chairman of Mint. “Our lean organisational structure allowed for an extremely efficient risk-evaluation, due diligence, approval and execution process, which proved to be one of our key advantages over our competitors.
“Our investment in NH has broadened our global footprint and is highly complementary to our pre-transaction hotel business portfolio. We have already been working very closely with NH to create an even larger and more competitive hospitality platform for our future growth.”
Dillip Rajakarier, chief operating officer of Minto and CEO of Minor Hotels, cited “superior tactics, timing and flexibility” in succeeding in the purchase.
“The combined Mint-NH Hotel Group platform has allowed us to create significant value for both companies. Examples include the recent sale and leaseback transaction of three Tivoli assets in Portugal and the launch of Anantara Villa Padierna Palace Benahavis Marbella Resort, the first Anantara hotel in Spain, both of which leverage on Mint and NH Hotel Group’s expertise and networks. 
“We can expect many more similar collaborations for the benefit of all stakeholders, including customers, of both companies in the future.”
Mint is a global company focused on hospitality, restaurants and lifestyle-brands distribution.

TAGS
nationthailand