The company already has four hotels in the Argentine capital and three in other regions of the country.
The main reasons for the increase of the number of hotels in Buenos Aires are the good results of the hotel chain in the Latin American country and the general increase in the number of tourists, visiting Argentina in the current summer season.
A total of 19 million tourists are expected to visit Argentina during the current summer season, a record high figure for the period. The turnover of NH Hoteles in Argentina rose 46 pct year-on-year from January to September 2004. The turnover of NH Hoteles totalled 689.4 mln euro ($898.29 mln) from January to September 2004, up 3.1 pct year-on-year.
NH Hoteles began operations in Argentina in 1999. It opened its last hotel in Argentina in Mendoza in 2002 with an investment of $8.0 mln (6.14 mln euro).
NH Hoteles ( www.nh-hotels.com ) has 240 hotels and some 34,000 rooms in 17 countries in Latin America, Europe and Africa.