NH Hotel Group signs with Pandox for two Brussels properties

18 December 2017 Author :  

NH Hotel Group and Pandox, a leading northern European property company, have entered into an agreement for the lease of the Bloom! and Berlaymont hotels in Brussels.

Under the agreement, NH Hotel Group will begin to operate both establishments from February under 20-year leases, in which the rent will be variable and with a basket of losses to limit downside in a potential change of the cycle.

The Bloom! Hotel, which features an extraordinary design, offers 305 rooms and extensive 2,000m2 capacity for hosting events and meetings at a central location in downtown Brussels.

The Berlaymont Hotel, meanwhile, with its 214 bedrooms and seven meeting rooms, is strategically located next to the European Commission and close to the European Parliament and train and metro stations that service all of Brussels.

Against the backdrop of the transaction, the parties have agreed a series of investments in order to rebrand the hotels and bring them up to the brand standards of NH Hotel Group.

By repositioning the two hotels and integrating them into NH Hotel Group’s powerful sales and revenue management platforms, coupled with their privileged locations and bright prospects for the destination, there is substantial scope for enhancing the profitability of both establishments.

“NH Hotel Group has been analysing numerous opportunities for organic growth in recent months, as a result of the confidence generated by its business plan and the appetite among hotel investors for the group’s flexible business model, most especially in the premium segment,” underlined Ramón Aragonés, chief executive, NH Hotel Group.

“Our well-diversified presence by both geography and segment, extraordinary operating capabilities, efficient salesforce and excellent profit margins are highly valued by benchmark sector players of the calibre of Pandox, a firm which shares our vision and capacity for growth.”

Thanks to these two new incorporations, NH Hotel Group currently has 32 projects in the pipeline which will add around 5,000 rooms in Europe and Latin America between 2018 and 2021.

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