Friday, December 24, 2010

NH Hotels Seeking EUR 200 Million Sale Leaseback of Six Hotels in Spain

Bloomberg - December 21, 2010

Hesperia, the largest shareholder in NH Hotels SA, plans to sell six hotels in Spain in a sale and leaseback agreement for 200 million euros ($263 million) to reduce debt, Expansion reported.

Hesperia hired Spanish real estate consultant Aguirre Newman to advise on the sale, the newspaper said.

The company hopes the sale will produce a capital gain of 43 million euros that can be used to repay part of Hesperia’s 602 million euros debt, the newspaper added, citing unidentified people. Sphere: Related Content

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