Thailand’s Bill Heinecke Takes On Europe
Recently there have been many perplexed hospitality players who questioned the move of Bill Heinecke’s Minor Hotel Group’s acquisition of 25.2% share in European hospitality group NH.
Reading lips, the question raised were why such a small stake and not a controlling interest?
Everything has been made clear now as Minor who already owned 9.5% of the NH Hotel Group were allowed under Spanish Law, according to Hotel Management News to launch a takeover bid.
If the takeover bid prospers the end result of teaming NH’s European properties and Minor’s, would be a consolidated entity of over 540 hotels.
It’s been a cat and mouse game at Spain-based NH, where China’s ailing HNA has been forced to sell, and the door opened for Minor to pass the 30% threshold and becoming a controlling entity.
As to Heinecke’s broader ambition, the missing part of the parcel to become a global player is clearly North America. Could that be next on Minor’s hit list? Time will tell.