NH Hotel Group, S.A. (NHHEF)

NH Hotel Group, S.A. (NHHEF) — VMCI valuation read

Headline read on NHHEF: VMCI of 58/100 versus a Consumer Cyclical sector median of 50. The 8-point above-median position is what makes NH Hotel Group, S.A. a relative-value candidate in the mid-cap cohort, before any pillar-level review.

Form 4 filings on NHHEF: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on NHHEF: value (NHHEF trades at 19.0x earnings, 6% above the Consumer Cyclical median of 18.0x), quality (ROIC of 19.0% sits 9.0pp above the Consumer Cyclical median (10.0%)), and risk (net debt to EBITDA of -0.5x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Consumer Cyclical 12.0x baseline.

NHHEF rose 0.8% over the trailing 7 days, with a -13.8% read on a 30-day basis.