Major hotel chains are jostling for market position and profits. Most recently, the NH group acquired the Hotel Princesa Sofía de Barcelona from a Saudi group, which in turn acquired it from Husa chain.
The NH group also made a failed attempt to purchase the Tryp hotel chain. The deal failed due to differences between major shareholders in the two groups.
The hotel sector has seen profits increase for the last six years and returns are standing at 10%.
Expansión, 29 March 1999
