Spain: Barceló backs away from planned merger with rival NH

Grupo Barceló has abandoned its plan to create the largest hotelier chain in Spain along with rival group NH, after receiving the first refusal to its merger proposal. The Mallorcan chain has ruled out presenting a counteroffer or improving the conditions initially proposed to try to convince their counterpart.

“We regret that the NH board has not been able to see the value of our proposal, we were very excited about this project, but the attempt stops here, the issue is already forgotten for us and from now on we will continue with business as usual”, explained at Barceló, chaired by Simón Pedro Barceló.

With the refusal by NH, the birth of the largest Spanish hotel group is foiled, with nearly 100,000 potential rooms in more than 600 hotels in four continents. Barceló has always defended the need for Spanish chains to unite in order to compete with the US chains and tackle markets such as Asia and Africa.

Full Content: El Economista

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