NH HOTELES ENTERS THE ITALIAN MARKET WITH A HOTEL AND A LARGE CONVENTION CENTRE IN VENICE

For the first time NH Hoteles is venturing into the most strategic market for the group by opening a spectacular 16,000 m² modernly decorated hotel in an avant-garde architectural style.
The NH Laguna Palace has 384 rooms and a large convention centre measuring 1,300 m² capable of holding 1,200 people. The complex also provides 750 parking spaces and 400 moorings
The building has been constructed by a prestigious local family and has been operating for less than three years. It is a unique opportunity to set up a hotel and convention centre that will be a reference point, run by a multinational operator.
The complex, located right in the city's business district, has two restaurants and six meeting rooms capable of holding 100 people.
Madrid, 4th of October 2004.- NH Hoteles has set up its first venture in Italy, near Venice, one of the biggest hotel markets in the world, opening a spectacular hotel complex, consisting of a hotel, the NH Laguna Palace, and a large convention centre, strategically located in the development area of Mestre. The hotel has 384 rooms, 21 of which are suites, and 29 apartments and is already in operation.

The hotel is located in a spectacular building with a modern architectural design which combines iron, wood and glass. The hotel rooms are in two buildings, NH Laguna Palace and NH Laguna Suites. An impressive glass roof runs between the two buildings and they are separated by a canal with a 400-mooring marina. The complex houses the NH Laguna Gallery convention centre, equipped with the very latest in image and sound technology. The fact that the centre of Venice is nearby and can be reached by car, train or boat in just a few minutes, is undoubtedly one of the most appealing features of the NH Laguna Palace.

The hotel has two restaurants offering impeccable cuisine, one of which, the Laguna Palace Restaurant is in spectacular surroundings in the harbour dock. The hotel also has six meeting rooms that can hold 100 people.

The operation is structured around a long-term lease agreement and represents an investment of €10.5 million for NH Hoteles. The hotel first opened less than three years ago and had previously been managed independently. By joining NH Hoteles it will now be managed by a multinational firm present in 17 markets in Europe and Latin America, making for great potential for the NH Laguna Palace.

The hotel was built and managed by the Danielli family, a prestigious business group experienced in the local building and property industry. The association and understanding between this family group and the NH Hoteles group sets up an ideal base for developing new hotel projects in Northern Italy.

ABOUT NH HOTELES

The NH Hoteles Group (www.nh-hoteles.com), after the acquisition of the Dutch Krasnapolsky hotel chain in July 2000, the Mexican hotel chain Krystal in June 2001 and the German Astron hotels in February 2002, ranks third in the European ranking for business hotels. NH Hoteles has 240 hotels with more than 35,000 rooms in 17 countries in Europe, Latin America and Africa. NH Hotels currently has 24 projects for new hotels under construction, which shall entail 4,000 new rooms.

The acquisition of the German hotel chain Astron has meant NH Hoteles’ consolidation in Europe, as Astron was the third most important operator in urban hotels in Germany. NH Hoteles stands out in quality both as regards services and facilities, with very carefully thought out decoration, intended to please all tastes, uniform, and making the customer feel comfortable. NH Hoteles’ establishments offer the most advanced technologies designed to facilitate the customer’s communication as well as his work and leisure.

The restaurants form another priority for hotels in the chain, offering customers first-rate cuisine. Furthermore, the prestigious restaurateur Ferran Adrià, creator of El Bulli restaurant, has entered into an association with NH Hoteles, launching new concepts such as "nhube", pioneering spaces in the hotel sector combining food, leisure and rest for the chain’s customers, and "Fast Good".

The NH Hoteles Group is listed on the Stock Exchanges of Madrid (in the selective Ibex 35 Index) and Amsterdam, in Euronext. Furthermore, NH Hoteles is a member of Stoxx Europe 600, including the best European companies. Also, NH Hoteles is included in the prestigious Morgan Stanley Capital International (MSCI) securities index.