NH Hoteles Sells Two Hotels In Spain

1st Jan 2003

NH Hoteles SA has sold two hotels in Spain for a total of 10-11 mln eur, Expansion reported, citing unnamed sources close to the operation.

According to the newspaper, the NH Breton hotel in central Madrid was sold for 8-9 mln eur, while the sale of NH Express Delta, in Tudela, Navarre, has raised about 2 mln.

The hotel disposals are included in the group`s existing asset sale programme, aimed at raising cash to reduce its high debt levels, Expansion noted.

NH Hoteles will continue to manage the two establishments, it added.





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