According to a note sent by the company to the Spanish National Securities Market Commission (CNMV), the consideration is based on an asset value of 123.3 million euros, in addition to a positive net financial position of 9.9 million euros. The company will make this payment through the available treasury, without resorting to external financing.

The transaction affects 100% of the share capital of the company Minor Continental Holding (MCHL), which is the sole shareholder of Minor Hotels Portugal, a company wholly owned by Minor.

The purchase affects the:

- Anantara Vilamoura Algarve Resort, with 260 rooms;


- Tivoli Lagos Algarve Resort with 296 rooms;


- NH Marina Portimão with 196 rooms;

Author: TripAdvisor;

- NH Sintra, with 77 rooms;

Author: TripAdvisor;

- The Residences at Victoria, with 45 rooms.

Author: TripAdvisor;

This agreement complies with the provisions of the contract signed between NH and Minor on February 7, 2019 with regard to the preferred geographic areas of each party.

NH reinforces its presence in Portugal by acquiring this portfolio of hotels that it has already been operating since 2019. This will allow it to "take advantage of operational and commercial synergies through the NH platform in southern Europe" and reinforce its growth strategy, in accordance with its notification to the CNMV.