-
The Spanish hospitality chain adds 337 hotels in 50 countries
to the portfolio
-
Following the legal rights to the brands �Golden Tulip� and
�Tulip Inn� obtained through the merger with Krasnapolsky, NH now also
becomes owner of the Licensing business
-
NH Hoteles will continue to use the Pegasus Central Reservation
System for all Golden Tulip Hotels and Tulip Inns
Amsterdam. June 8th, 2001. - NH Hoteles, the third European company in
business hotels has acquired from Pegasus Solutions, Inc (NASDAQ: PEGS)
leader in reservations technology for hotels, the licensing rights of Golden
Tulip and Tulip Inn. The transaction valued at 2.4 million euros will entail
that Golden Tulip Worldwide will become a business unit of NH Hoteles.
The Spanish Hospitality Chain primary objective of the purchase is to gain
control of the strategic development of the Golden Tulip brands in line
with the other brands of NH Hoteles, NH Hotels and NH Express.
Golden Tulip Worldwide is consisting out of 337 hotels spread in 250
cities and 50 countries, with worldwide coverage.
| NH Hoteles wants to ensure the quality standards
on all the hotels, which are operated both under the Golden Tulip and the
Tulip Inn brands. Golden Tulip Hotels are First Class hotels in business
destinations and the better resort areas, whilst Tulip Inns are Moderate
First Class and Superior Tourist Class Hotels (3 star), also catering to
the corporate and the leisure traveller. Golden Tulip Worldwide is a preferred
Travel partner of KLM Royal Dutch Airlines since 1975. In addition to KLM,
Golden Tulip is participating in some other Frequent Flyer Programmes,
including Northwest Airlines, American Airlines, Alitalia and Air France.
The agreement reached between NH Hoteles and Pegasus provides that the
latter shall continue rendering technology services for all the Golden
Tulip hotels.
At present, the Group NH Hoteles operates 168 hotels, 65 of which were
formerly run by Krasnapolsky belong to the brands Golden Tulip and Tulip
Inn.
|
| NH Hoteles is one of the leading companies in the European
city hotel segment following the acquisition last July of the Dutch hotel
chain, Krasnapolsky.
With 167 operating hotels (owned, leased and under long-term
management) andmore than 22,300 beds, NH is present in 15 countries worldwide
with the NH Hoteles brand (Spain, Argentina, Chile, Uruguay and Portugal),
Krasnapolsky/Golden Tulip/Tulip Inn (Belgium, Holland, Germany, Switzerland,
Cuba, Malta, Tunisia, Israel, Ghana and South Africa) and NH Express (Spain).
The Group also has a 20% stake in the Jolly Hotels chain
(Italy, Amsterdam, Brussels, Paris and New York) and has a 94% interest
in Sotogrande, S.A., a company that operates the most prestigious tourist
resort in Spain's Costa del Sol and which has, among other assets, a hotel,
the Almenara Golf Hotel, a golf course and plots of land that can be developed.
NH Hoteles is listed in the Spanish stock markets since
1992 and is part of the selective Ibex 35 index. It is also listed in the
Amsterdam stock exchange (Euronext) since September 2000. NH is part
of the EuroStock 600 index that includes the best listed European
companies and trades in the ADR level 1 program in the New York Stock Exchange. |
|
In respect of the agreement, John F. Davis III, Chairman and Chief Executive
Officer of Pegasus Solutions, stated: �When NH Hoteles and us discussed
this opportunity all the parties involved agreed to it. The Golden Tulip
brand will be grouped in a single flagship and this will help promote the
clarity around and identity of the Brand in the market. Moreover, even
if we no longer manage the brand and licence services for the 337 properties
of Golden Tulip, we are delighted to continue having Golden Tulip as a
client. Not only our fee handling services, Internet, Global l Distribution
Services (GDS) and the hosting of the web-site NetBookerTM will continue
in place, but we shall extend our relationship as they will be in closer
contact with our CRS (Central Reservation System).�
Thus, apart from the other technology services which we provide them,
this transaction shall allow Pegasus to maintain the income from the CRS
of the Golden Tulip operation�, added Davis.
Thomas Bas, Managing Director of Corporate Development of NH Hoteles
considers that: "Our decision to regain control of the brand and licensing
services of Golden Tulip will simplify our operations and shall allow us
to be in a better position to become aware of all the brand potential of
Golden Tulip and at the same time avoid the risk of confusion arising from
having the brand distributed by two companies. We are very excited about
maintaining our relationship with Pegasus, as the latter will provide the
key assistance required in the administrative process linked to reservations
and the management requirements of the hotels.�
Hans W.R. Kennedie, Managing Director of Golden Tulip Worldwide and
an 18-year veteran with the Golden Tulip Organisation is enthusiastic about
the arrangement, whilst quoting: �The opportunity to be part of one of
the Europe�s fastest growing Hotel organisations and continue to serviced
by Pegasus Solutions, the World�s leader in hotel distribution services
are creating a unique platform to continue our growth and our position
as one of the Europe�s leading Licence Systems. NH Hoteles and Golden Tulip
Worldwide, combined will have a strong portfolio of some 460 Hotels and
Inns around the globe�
|
