• NH shows strength in continental Europe

NH Hoteles showed the strength in the continental European hotel markets with its third quarter results last week.

The company saw its revpar growth accelerate from 4.4% in the first half to 5.2% for the first nine months.

Even tough comparatives in Germany, which hosted the soccer World Cup last year, were beaten off and show a 0.4% growth for the nine months thanks to a 4% growth in the third quarter.

Revpar in its core Spanish market was up 6% for the nine months, although the third quarter showed a slight slowing to a 5% growth.

Total EBITDA in the nine months was up 65% to Eu197.8m thanks to a 44% rise in revenues to Eu1.098bn.

Since the start of the year, NH has added more than 10,000 rooms, thanks mainly to the incorporation of two Italian chains: Jolly and Framon.

The target is to add 18,000 new room signings between 2007 and 2009. As at October 22, the company had secured 5,290 rooms. It currently has 49,491 rooms with 8,873 signed to join its system.

The pressure to deliver was stepped-up last month with news that Hesperia, the rival private hotel group, had increased its stake in NH to 25.088%.

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