When international hospitality company NH Hotel Group developed an ambitious five-year plan for growth, it became clear that the treasury function would need an upgrade. Based in Madrid, the company operates around 350 hotels located mostly in city centers throughout 30 European and Latin American countries.
“Our headquarters are in Spain, but we had grown through acquisitions and ended up with a largely decentralized treasury model,” says Luis Martinez Jurado, senior vice president of treasury and finance for NH Hotel Group. “When the company embarked on our five-year plan, we had five treasury centers in Europe and four treasury centers in Latin America. Our local teams had a lot of autonomy. And we were using more than 1,500 bank accounts across a large number of banks.”
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Meg Waters
Meg Waters is the editor in chief of Treasury & Risk. She is the former editor in chief of BPM Magazine and the former managing editor of Business Finance.
