Hyatt is looking to expand. It has shown interest in acquiring NH Hotel Group SA. The company has sent a letter to the he Spanish hotel operator expressing interest in pursuing a potential acquisition. NH Hotel shareholders are already weighing a tender offer from Thailand’s Minor International Pcl. In fact Dillip Rajakarier, chief operating officer of the Thai bidder, says that the Hyatt letter is already too late.
“We believe that marrying NH Hotel Group’s strong footprint in Europe and select other markets with Hyatt’s global presence would yield a powerful portfolio of brands and network of hotels delivering compelling benefits for guests, owners and shareholders of both companies,” said Mark Hoplamazian, Hyatt’s president and chief executive officer.
NH Hotel Group would provide a great boost for Hyatt in Europe. That’s where Hyatt has limited coverage and NH Hotel Group has 380. These are mostly mid-scale options with a few outliers in the lower and upper end. They also have one hotel in the U.S., specifically in New York, but it is currently closed for renovation.