Minor Hotels Europe & Americas—formerly NH Hotel Group—has registered a benefit including non-recurring 145.8 million euros in the first three quarters of the year. This represents a 46.3% increase year-on-year compared to the same period last year, when it obtained 99.6 million profits, according to what the company has submitted to the National Securities Markets Commission (CNMV). Recurring net profit reached 141.1 million euros, 51.7% more.
Regarding income, they rose by 10.9%, up to 1,788.8 million euros. The chain explains the improvement in the increase in the average daily rate (ADR), which increased 6.2% year-on-yearup to 146 euros, with Spain and Central Europe leading the results of the entire portfolio. With this, revenue per available room (RevPAR) increased by 8%, up to 101 eurosunderscoring the effectiveness of Minor Hotels’ pricing strategy and increasing demand in higher-growth regions.
He gross operating profit was located in 667.4 million euros8.9% higher, and the operating profit was 18.9% higher, until reaching the 271.7 million euros.
The gross operating profit (ebitda) was a 11.3% higher to that achieved between January and September 2023, with 498.1 million euros in total.
As of September 30, 2024, Minor Hotels Europe & Americas recorded a net financial debt of 313 million eurosmainly due to a strategic investment of 160 million euros in Minor Brazil Hotels, which represents 80% of the total acquisition price. Excluding this acquisition, The net debt would have decreased by 109 million.
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