| | |  Business News 
NH Hoteles Sells 3 Properties in Mexico for $57 Million
 EFE
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February 24, 2010
Madrid Hospitality group NH Hoteles has sold three hotels it operated in Mexico under the Hilton brand for $57 million, the company said in a filing Tuesday with Spanish stock market regulator CNMV.
The deal is part of an asset divestment plan announced last year to bolster the balance sheet, NH Hoteles said.
The properties are located in the Mexican cities of Guadalajara, Monterrey and Ciudad Juarez.
The sale agreement also calls for termination of the management contracts for the hotels operated by the Spanish hospitality group under the Krystal brand in the Mexican cities of Cancun, Puerto Vallarta and Ixtapa.
NH Hoteles, Europes third-largest business hotel group, operates 347 hotels in 22 countries in Europe, the Americas and Africa.
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