NH Hoteles SA is a Spain-based company primarily engaged, together with its subsidiaries, in the hotel sector. The Company is active in the management and exploitation of hotel chains under the NH Hoteles, Hesperia, Husa, Sercotel, Jolly, Framon, Zenit and Insignia brand names. Apart from accommodation, the Company�s services also include such other services as banquets and receptions. The Company operates over 400 hotels primarily located in Central Europe, Germany, Spain, Italy and the Benelux. In addition, it is a parent of Grupo NH Hoteles, a group which comprises Nuevos Espacios Hoteleros SA, Sotogrande SA, Explotaciones Hoteleras Condor SL, Latinoamerica de Gestion Hotelera SA, NH Hotel Ciutat De Reus SA, Fashion Tapas SL and Atardecer Caribeno SL, among others. As of December 31, 2011, Grupo Inversor Hesperia SA was the Company�s major shareholder with 25.09% of its interest.