SPAIN-US CHAMBER OF COMMERCE HONORS nH HOTELS AS THE 2002 COMPANY OF...

SPAIN-US CHAMBER OF COMMERCE HONORS nH HOTELS AS THE 2002 COMPANY OF THE YEAR AT ANNUAL GALA DINNER

Award Coincides with Another Milestone in the Company's Aggressive Growth Plan - Their Official Brand Launch in the United States and a Property-Wide Re-Branding Campaign


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MIAMI, FL–(HISPANIC PR WIRE)–June 21, 2002–The Spain-US Chamber of Commerce Board of Directors is scheduled to present nH Hotels, one of the largest hotel chains in Europe, as the 2002 “Company of the Year” at their annual Gala dinner being held this evening at Vizcaya Museum and Gardens. nH Hotels is one of Europe’s leading hotel companies and currently has 237 properties representing more than 34,000 rooms in 18 countries, with 38 projects in development representing an additional 6,645 rooms. The company, which specializes in serving the international corporate traveler, is a leader in many of the markets in which they operate, including Madrid, Barcelona, Amsterdam, Brussels and Buenos Aires.

nH Hotels is the 22nd Spain-based company to receive this award from the Spain-US Chamber since it was first bestowed in 1990. The award will be presented by Rafael Hidalgo, president of the Spain-US Chamber of Commerce to Gabriele Burgio, president and Chief Executive Offer of nH Hotels, before a group of several hundred attendees representing South Florida’s leading Spanish companies doing business in the United States.

The Company of the Year award is being presented at a time in which nH is celebrating two other significant milestones – the launch of a $7 million dollar property-wide re-branding initiative following its recent acquisitions including the Dutch chain, Krasnapolsky, Germany’s Astron Hotels, and Mexico’s Krystal Hotels – all top-ranked hotel groups in their respective markets. This week, the company also held the official launch of a $2+ million campaign to introduce the nH Hotels brand in the United States, where the company recently opened sales offices in Miami, New York and Houston, and has launched aggressive trade initiatives. These include an advertising campaign, sales missions, direct marketing efforts and trade show appearances.

“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. nH Hotels has grown during the last six years by 391% in room nights, 640% in revenue, and 918% in operational benefit. Overall the company has achieved a 38.5% increase in total revenue in 2001 over the previous year and a five-fold increase in the number of rooms from 6,900 to more than 34,000.

“nH Hotels is proud to receive this important distinction from the Spain-US Chamber of Commerce. The U.S. is currently our fifth largest customer segment and we are betting on continued growth from this market with the recent opening of our three U.S. sales offices located in Miami, New York and Houston and the launch of other aggressive initiatives. 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.”

ABOUT nH HOTELS

The nH Hotels 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 237 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).

ATTN EDITORS: Photography available upon request.

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CONTACT:

Rosalie Huerta/ Cristina Sorondo

M. Silver Associates Inc.

305/533-1111

rosalie@msilver-pr.com

or

Maria Cortina

nH Communications Director

Madrid, Spain

+34-91-451 9762

+34-91-451 9718 (Main)

comunicacion@nh-hoteles.com

or

Alfonso de Goyeneche

Spain-US Chamber of Commerce

305/358-5988

SPAIN-US CHAMBER OF COMMERCE HONORS nH HOTELS AS THE 2002 COMPANY OF THE YEAR AT ANNUAL GALA DINNER