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MADRID, SPAIN-NH Hoteles is going to exploit Golden Tulip.
The Spanish company acquired the licensing rights of Golden Tulip and Tulip Inn from Pegasus Solutions for $2 million, making Golden Tulip Worldwide a business unit of NH Hoteles. The company plans to gain control of the strategic development of the Golden Tulip brands, maximizing the synergies between the company's other brands, NH Hotels and NH Express, and to ensure higher quality standards at all hotels. With the acquisition, NH Hotels adds 264 franchised Golden Tulip hotels to the 73 it already owns.
"We're not buying the ownership of the brand because we already own it," said Tom Bas, managing director of corporate development of NH Hoteles. "We're buying the right to exploit the Golden Tulip brand."
The sale was expected to close on June 29, at which time Golden Tulip employees were expected to be transferred to the Golden Tulip Hotel subsidiary of NH...