MESSAGES FROM THE CHAIRMAN AND CEO 5
I am pleased to present the 2014 Annual Report, in which
we review and analyze the evolution of all the aspects of
the Group’s business, while sharing the main milestones
we have achieved. This report reflects the progress and
consolidation of our responsible business approach, as well
as our commitment and willingness to continue building value
for the Company, its shareholders, customers, employees and
society in general.
After re-establishing the financial balance and ensuring
the availability of additional resources for supporting the
investment and repositioning plan concerning our hotel
portfolio, 2014 marked a major step forward towards the
implementation of a model that will guarantee a sustainable
and profitable future, full of opportunities for NH. One year
into the implementation of our ambitious transformation plan,
solid progress has been made in all areas. This is having a
positive impact on the Group’s results and the level of trust
our investors place in us.
The strict implementation of the initiatives included in the
Strategic Plan, an increase in hotel guest satisfaction, our
enhanced economic indicators in all Business Units and, as
a result, the upward trend in the price of our shares from the
beginning of 2014 until mid-2015, prove that the Group is
taking the right steps to start growing again.
During the year, the acquisition of 44.5% of the share capital
that the Company did not control in NH Italy, a Business
Unit with significant strategic assets in Italy and abroad,
strengthened the Group’s equity, streamlined the decision-
making process, maximized our management capacity, and
consolidated 100% of our operations in a very important
market for the Company.
Today, NH Hotel Group generates global interest and
credibility, as reflected by our current shareholding structure,
which attracted funds of international prestige in the past
months. The Company has kept up with the times and
is showing that it is more than ready to lead this change
responsibly and transparently.
The new NH is already a reality. It is the result of sound values
and beliefs, brave decisions, and the enthusiasm and effort
of thousands of committed employees. It is a Group that
follows the strictest ethical principles and that integrates
sustainability and social concerns into its daily activities. It is a
Company that encourages dialogue with its stakeholders and
provides solutions to the needs and issues it faces.
In this report I would like to share the challenges we have
encountered and the excellent development opportunities
that the ongoing plans are bringing our way. The Group is
ready to grow. It has left behind what it no longer needed and
it is maximizing everything that adds value and differentiates
it from the rest, consolidating its privileged strategic position
in the industry.
On behalf of NH Hotel Group and its Board of Directors, I
would like to thank our shareholders, partners and customers
for their support and for the trust they have placed in the
Company. Very special thanks to each of the employees,
without their contribution, nothing would be possible.
To all of you, thank you,
Rodrigo Echenique Gordillo
Chairman of NH Hotel Group
CHAIRMAN
OF NH HOTEL GROUP
