T.I.P.

NH Hoteles is a Madrid-based group that owns the world’s most important “city hotel” chains.

Besides hotel operations, the group controls, with approximately a 78% stake, the Spanish company Sotogrande, which operates in the real estate activity.

During 2009, the group has achieved about 1.214,4mn euro in terms of turnover, 70,1mn euro in terms of Ebitda and a net loss of about 97,1mn euro.

During June 2009 it executed a capital increase (of about 200mn euro) which has been very well received by the market.

TIP participated – pro quota – to the subscription of the capital increase.