When international hospitality company NH Hotel Group developedan ambitious five-year plan for growth, it became clear that thetreasury function would need an upgrade. Based in Madrid, thecompany operates around 350 hotels located mostly in city centersthroughout 30 European and Latin American countries.

“Our headquarters are in Spain, but we had grown throughacquisitions and ended up with a largely decentralized treasurymodel,” says Luis Martinez Jurado, senior vice president oftreasury and finance for NH Hotel Group.  “When thecompany embarked on our five-year plan, we had five treasurycenters in Europe and four treasury centers in Latin America. Ourlocal teams had a lot of autonomy. And we were using more than1,500 bank accounts across a large number of banks.”