Skift Take
Would NH Hotel Group have been better off with Hyatt? Perhaps we’ll never know. But maybe there’s another company out there that isn’t afraid to get into a bidding war with Minor?
If you've been a bit bewildered by what's happening with Spanish hotel company NH Hotel Group, and its two suitors — Thai conglomerate, Minor International, and U.S.-based Hyatt Hotels & Resorts — you're not alone.
And although it appears that Hyatt has backed off of its pursuit of NH Hotel Group for now, its moves in this particular fray seem to hint at the company's future strategy.
Here, we take a look at what's transpired thus far, and what it all means for Hyatt, Minor, and NH Hotel Group.
A Brief Recap of What's Transpired
Hyatt Hotels & Resorts took some folks in the hospitality industry by surprise last Thursday when CEO Mark Hoplamazian sent a letter to the board of Spanish hotel company, NH Hotel Group, expressing Hyatt's interest in acquiring the company.
Hyatt's letter led to a series of interesting moves both by Hyatt and the other company vying to buy NH, Minor International.
NH would give either company a bigger footprint in the European market, where most of its 380 hotels are located.
Minor International was already well on its way to taking over NH Hotel Group, having purchased HNA Group's portion in the company earlier this year. And a few hours following the announcement of Hyatt's intentions, Minor International also revealed that it expects to own approximately 44 percent of NH Hotel Group by August 9, pending NH Hotel Group board approval. Minor also contacted the NH Hotel Group board, telling them to be skeptical of Hyatt's overtures.
Minor's disclosure has since prompted Hyatt Hotels to issue another letter to the NH Hotel Board, this time stating that Hyatt is retreati
