Europe: Minor International (MINT), through its subsidiary NH Hotel Group (NHH), will rebrand the hotels which are to be leased from Covivio.
The eight properties include: Palazzo Naiadi in Rome, Italy; The Carlo IV in Prague, Czech Republic; Hotel Plaza in Nice, France; The NY Palace and The NY Residence in Budapest, Hungary; the Grand Hotel Dei Dogi and the Bellini Hotel in Venice, Italy; and the Palazzo Gaddi in Florence, Italy.
To be featured in the rebrand are notable names such as Anantara and NH Collection.
Covivio’s acquisition of the eight hotels is expected to be complete within six months, with the handover taking place at the same time the transaction is closing.
The hotels in Florence and Nice are currently undergoing refurbishment, with an anticipated completion date of June 2020 and January 2021 respectively.
NHH will operate the portfolio under a long-term sustainable lease contract.
Dillip Rajakarier, CEO of the Minor Hotel group, said: “MINT and NHH have been leveraging on both parties’ strengths for cross-expansion. We are very excited about the potential of the Anantara brand in Europe. Anantara’s brand strength, coupled with NHH’s strong relationship with real estate investors has enabled us to expand our luxury hotel portfolio in Europe at a much faster pace”.
“Following the launch of Anantara Villa Padierna Palace in Spain in July and the signing in October of a hotel in Dublin, Ireland, to be rebranded to Anantara in 2020, this strategic transaction will notably strengthen the presence of our luxury Anantara brand in key privileged destinations in Europe”.
