SPAIN-US CHAMBER OF COMMERCE REVEALS COMPANY OF THE YEAR

SPAIN-US CHAMBER OF COMMERCE REVEALS COMPANY OF THE YEAR

Spain-based NH Hotels Receives Top Honor


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MIAMI–(HISPANIC PR WIRE)–June 5, 2002–The Spain-US Chamber of Commerce Board of Directors today announced NH Hotels, one of the largest hotel chains in Europe, as the 2002 “Company of the Year.”

NH Hotels is the 22nd Spain-based company to receive this award from the Chamber since it was first bestowed in 1990.

“As a leader in the hospitality industry, NH is helping to grow international business relations between Spain and the United States and successfully promote international travel during a challenging time within the industry, while offering a superior and unique hotel product to corporate executives traveling worldwide,” said Alfonso Goyeneche, Executive Director of the Chamber. “We welcome the U.S.-Spain business community to applaud their efforts and achievements.”

The Spain-US Chamber of Commerce Board of Directors chooses the “company of the year” based on its demonstrated leadership within their industry, continued growth and innovation as well as the company’s contribution in strengthening commercial ties between the two nations. In this regard, NH Hotels has grown during the last six years by 391% in room nights, 640% in revenue, and 918% in operational benefit.

“NH Hotels is proud to receive this important distinction from the Spain-US Chamber of Commerce. NH Hotels is betting on the North American market and has recently opened three U.S. sales offices located in Miami, New York and Houston. We want our brand (the most well-known in Spain) to become increasingly known here and for business travelers from the United States to visit our hotels”, said Gabriele Burgio, chief executive officer, NH Hotels. “We look forward to the start of a long and fruitful relationship with a growing number of corporate constituents in the U.S. as we continue to grow and reach new markets.”

The Company of the Year award will be presented on Friday, June 21, 2002 during the Chamber’s annual Gala event.

ABOUT NH HOTELS

The NH Hoteles Group, (http://www.nh-hoteles.com), following the acquisition of the Dutch chain, Krasnapolsky in July 2000 and the German hotel chain, Astron last 25th February, is now Europe’s third ranking business hotel chain. NH operates 238 hotels and 34,179 rooms in 18 countries in Europe, Latin America and Africa. The recent acquisition of Astron, the third leading city hotel in Germany, has consolidated NH’s presence in Europe. NH currently has 38 new projects under construction that will add close to 6,700 new rooms. NH hotels are famous for the quality of their services and facilities, where great attention has been given to the décor so that guests may enjoy a comfortable stay. The hotels have the most advance technologies to facilitate its guests communications as well as their work and leisure. NH Hoteles attaches great importance to gastronomy. In fact, the company has reached a collaboration agreement with Ferrán Adrià, one of the world’s most prestigious chefs, with three Michelin stars, who has launched the new “nhube” concept in NH Hotels. These spacious areas, a first in the hotel sector, combine restaurant services, relax and leisure. He has recently introduced “fast-good”, a concept where fast food and the highest quality are made compatible. The NH Group is listed in the Madrid (part of the selective IBEX 35) and Amsterdam (Euronext) stock exchanges. NH Hoteles is also a member of Stoxx Europe 600, which includes the leading European companies included in Morgan Stanley Capital International’s stock index (MSCI).

FOR MORE INFORMATION: Communications Department, Tel: + 34914519762, + 34 91451 97 18 (switchboard)

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CONTACT:

Alfonso de Goyeneche

Spain-US Chamber of Commerce

305/358.5988

or

Rosalie Huerta/ Cristina Sorondo

M. Silver Associates Inc.

305/533.1111

SPAIN-US CHAMBER OF COMMERCE REVEALS COMPANY OF THE YEAR