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NH Hoteles announces strategic plan to cut costs

Horeca

NH Hoteles SA expects its new strategic plan to boost the hotel group’s share price to about 15 euro from just under 10 currently, La Gaceta de los Negocios reported, citing comments by chairman Gabriele Burgio. The newspaper cited Burgio as saying: ‘Even given the current difficult economic environment, the stock price could reach 15 euro.

NH Hoteles strategic plan includes an aggressive cost cutting programme, the sale of non-strategic hotel assets and a freeze on new investments, as well as reducing debt to reestablish dividend payments. Burgio reiterated that the group plans to resume dividend payments this year, after a three-year break.

NH Hoteles strategic plan includes an aggressive cost cutting programme, the sale of non-strategic hotel assets and a freeze on new investments, as well as reducing debt to reestablish dividend payments. Burgio reiterated that the group plans to resume dividend payments this year, after a three-year break.

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