NH Hotel Group has rejected Barceló Group′s “inadequate” merger proposal.
The company has released a statement saying that the terms of the bid “fail to reflect NH’s true value”.
Barceló Hotel Group made a preliminary merger proposal to fellow Spanish company NH Hotel Group in November 2017, which could have created the biggest Spanish hotel group.
Barceló Group, which has more than 230 hotels, proposed to have 60% of the shared company and a majority on the board.
NH Hotels has a portfolio of nearly 400 hotels globally, including one in the UK, the NH London Kensington (pictured). The group also plans to launch its Nhow brand in London, with an eight-storey, 190-bedroom hotel, set to open in Shoreditch in 2019.