• NH cuts losses

NH Hotels lifted revenues to EUR148m in Q3, up from a low of EUR30m in the previous quarter. Cost cutting has reduced the cash burn to EUR25m per month.

Average occupancy was above 40%, while 75% of group hotels had reopened. Liquidity was EUR485m at the end of the quarter, after a revolving credit facility was extended to 2023.

Read the full story here:

https://www.nh-hotels.com/corporate/press-room/news/nh-hotel-group-reopens-75-its-hotels-during-third-quarter-mantains-its-cost-base-low

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