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NH exceeds its pre-pandemic income and earns 100 million due to the rise in prices

Date: March 30, 2023 Time: 11:56:12

The recovery of international tourism that the Spanish tourism sector had during 2022 has returned the profits to the NH hotel chain, which has not registered a positive result since 2019, the last year of pre-pandemic normality. The company, which presents profits of 100 million euros as a result of its asset rotation and cost control policy, highlights the good performance since April. This has allowed them to enter 1,759 million euros in 2022 and improve their last results in the green, when profits amounted to 90 million.

NH highlights the increase in the average rate, which rose by 18.7% compared to three years ago, up to 122 euros, as a fundamental factor in achieving this result. Occupancy, on the other hand, was six points lower than then, remaining at 68%. Another factor behind this result is cost control, which leaves Ebitda at 519 million, a value close to that of 2019. In the last year, the hotel company will also reduce its debt by 260 million, registering an outstanding balance of 308 a year end.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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