On February 7, 2019 NH Hotel Group has subscribed with Minor IPC i) a Framework Agreement that aims to establish a transparent framework of relations between the Company and Minor and its group companies, which, among others, includes criteria for the allocation of expenses between both Companies, all in compliance with the Recommendation Two of the Code of Good Governance of Listed Companies and ii) a reciprocal agreement of trademark license, by which both parties are licensed the use of their respective trademarks in the geographical areas where the other party operates. The subscription of the mentioned agreements was duly approved by the Board of Directors, after a favorable report from the Audit and Control Committee and communicated by Relevant Event on February 7, 2019.

On January 15, 2019, the sale of its 49% stake in the company Beijing NH Grand China Hotel Management CO, Ltd. was executed, this sale was a cash inflow of 1.9 million euros.