NHH: 9M18 results preview (Bankinter Securities)
After a strong rebound in Spain (room prices increased +25% over a two-year period), we expect revenues there to be flat on a year-on-year basis. For Italy, Benelux and Central Europe (about 64% of quarterly revenues), we expect quarterly growth of c. 2%. The soft spot will continue to be Latin America (7% of revenues), where despite strong growth in local currency (above 10% yoy) the currency effect is weighting down on its contribution (we expect quarterly growth in Euro to be -8% yoy).
NH Hotel is engaged in the operation and management of hotels throughout Spain, the Benelux countries, Germany, and South America.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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