Accelerating growth 3 NH Annual Report 2006 15

•  NH Hoteles has opened 15 hotels and 2,486 rooms in 2006. •  In 2007 (up to April) the company has opened and added 66 hotels and 9,756 rooms. NH Annual Report 2006 16 OPENINGS OPEN HOTELS DURING 2006 Germany Spain Italy Cuba Luxembourg Portugal United Kingdom Romania Argentina    The Netherlands Total HOTELS 4 3 2 1 1 1 1 1 0 1 15 ROOMS 505 285 374 690 148 148 121 83 67 65 2,486 OPEN HOTELS (JANUARY-APRIL 2007) Italy Germany Spain The Netherlands United Kingdom Austria United States Belgium France Mexico Total HOTELS 54 2 2 2 1 1 1 1 1 1 66 ROOMS 7,247 472 440 338 275 252 242 193 162 135 9,756 • Openings 1978 to 2005 • Openings 2006 to 2007*      * Until April 2007 25% 75% 0 2,000 4,000 6,000 8,000 10,000 2004 2005 2006 2007 (until April) 1,008 2,329 2,486 9,756 NH HOTELES DRIVE FOR GROWTH IN ROOMS OPENINGS AND ADDITIONS EVOLUTION Room of the NH München Deutscher Kaiser Munich - Germany

NH Annual Report 2006 17 OPENED HOTELS IN 2006 LOCATION ROOMS CONTRACT CATEGORY GERMANY NH BERLIN KURFÜRSTENDAMM BERLIN 140 LEASED NH NH BERLIN CITY WEST BERLIN 136 LEASED NH NH HAMBURG NORGE HAMBURG 130 LEASED NH NH BERLIN-FRANKFURTER ALLEE BERLIN 99 LEASED NH SPAIN NH BALAGO VALLADOLID 120 LEASED NH NH AGUSTINOS PAMPLONA (BERRIOPLANO) 60 MANAGED NH NH PUERTA DE LA CATEDRAL SALAMANCA 37 LEASED COLLECTION ITALY NHOW MILANO MILAN 249 LEASED NHOW NH SANTO STEFANO TURIN 125 MANAGED COLLECTION CUBA NH KRYSTAL LAGUNA VILLAS & RESORTS CAYO COCO 690 MANAGED ALL INCLUDED LUXEMBOURG NH LUXEMBOURG LUXEMBOURG 148 LEASED NH PORTUGAL NH PARQUE LISBOA LISBON 148 LEASED NH UNITED KINGDOM NH KENSINGTON LONDON 121 LEASED NH ROMANIA NH TIMISOARA TIMISOARA 83 LEASED NH THE NETHERLANDS NH HOTEL DE VILLE GRONINGA 65 LEASED NH EXTENSIONS IN 2006 LOCATION ROOMS CONTRACT CATEGORY SPAIN NH NUMANCIA BARCELONA 68 LEASED NH ARGENTINA NH CITY TOWER BUENOS AIRES 67 OWNED NH TOTAL 2006 TOTAL HOTELS ROOMS TOTAL OPEN HOTELS IN 2006 15 2,351 TOTAL EXTENSIONS IN 2006 135 TOTAL OPEN ROOMS IN 2006 2,486

NH Annual Report 2006 18 RANKING OF EUROPEAN HOTEL GROUPS (December 31, 2006) Source: MKG Consulting (* Without including the acquisitions of Jolly Hotels and Framon) NH Hoteles is the European hotel company that grew most in 2006 NH Den Haag The Hague - The Netherlands Rank 2006 Rank 2005 Groups Hotels 2006 Hotels 2005 Rooms 2006 Rooms 2005 Change 06/05 1 1 ACCOR 2,205 2,197 241,046 239,279 0.7% 2 2 BEST WESTERN 1,215 1,195 80,318 78,140 2.8% 3 3 ICH GROUP 505 498 77,721 76,794 1.2% 4 5 HILTON CORP. 257 243 56,675 53,600 5.7% 5 4 LOUVRE HOTELS 823 851 56,339 59,475 -5.3% 6 7 TUI 190 170 48,843 41,508 17.7% 7 6 SOL MELIA 198 208 41,771 45,652 -8.5% 8 12 NH HOTELES * 270 217 38,466 30,553 25.9% 9 9 CARLSON / REZIDOR SAS 195 184 37,271 35,352 5.4% 10 10 STARWOOD HOTELS & RES. 153 144 35,064 33,819 3.7% TOTAL 10 Companies 6,011 5,907 713,514 694,172 2.8%

NH Annual Report 2006 19 OPEN HOTELS AND ADDITIONS IN 2007 LOCATION ROOMS CONTRACT CATEGORY ITALY JOLLY HOTEL MIDAS ROME 344 LEASED JOLLY JOLLY HOTEL TOURING MILAN 284 LEASED JOLLY JOLLY MILANO PRESIDENT MILAN 256 LEASED JOLLY JOLLY HOTEL MILANO FIORI MILAN 255 OWNED JOLLY JOLLY HOTEL LEONARDO DE VINCI ROME 253 LEASED JOLLY JOLLY HOTEL PALERMO PALERMO 237 OWNED JOLLY JOLLY HOTEL NAPOLI NAPLES 231 LEASED JOLLY JOLLY HOTEL VILLANOVA BOLOGNA 209 LEASED JOLLY JOLLY HOTEL VITTORIO VENETO ROME 201 OWNED JOLLY JOLLY HOTEL VILLA CARPEGNA ROME 201 LEASED JOLLY JOLLY HOTEL AMBASCIATORI TURIN 199 OWNED JOLLY JOLLY HOTEL DELLE TERME ISCHIA 194 OWNED JOLLY JOLLY TRIESTE TRIESTE 172 OWNED JOLLY JOLLY HOTEL LIGURE TURIN 169 OWNED JOLLY JOLLY HOTEL DE LA GARE BOLOGNA 156 LEASED JOLLY JOLLY HOTEL FIRENZE FLORENCE 152 OWNED JOLLY JOLLY HOTEL PLAZA GENOVA 143 OWNED JOLLY JOLLY HOTEL MILANO 2 MILAN 143 LEASED JOLLY JOLLY HOTEL MARINA GENOVA 140 LEASED JOLLY JOLLY HOTEL MILANO RESIDENCE MILAN 134 LEASED JOLLY JOLLY HOTEL BELLINI CATANIA 130 OWNED JOLLY JOLLY HOTEL SIENE SIENA 129 LEASED JOLLY JOLLY HOTEL CAGLIARI CAGLIARI 129 FRANCHISE JOLLY HOTEL PARCO DEGLI ARAGONESI CATANIA 123 LEASED FRAMON JOLLY HOTEL DELLA VALLE AGRIGENTO 120 FRANCHISE JOLLY JOLLY HOTEL TIEPOLO VICENZA 115 LEASED JOLLY ANGLO AMERICAN HOTEL FLORENCE 115 LEASED FRAMON JOLLY HOTEL PONTEVECCHIO LECCO 112 LEASED JOLLY JOLLY LA SPEZIA LA SPEZIA 110 OWNED JOLLY JOLLY HOTEL CASERTA CASERTA 107 OWNED JOLLY JOLLY HOTEL SALERNO SALERNO 104 FRANCHISE JOLLY JOLLY HOTEL MACHIAVELLI MILAN 103 LEASED JOLLY ROYAL PALACE HOTEL MESSINA 102 MANAGED FRAMON TONNARA DI BONAGIA VALDERICE 102 LEASED FRAMON DIOSCURI BAY PALACE AGRIGENTO 102 LEASED FRAMON JOLLY HOTEL CAVALIERI PISA 100 OWNED JOLLY JOLLY HOTEL SIRACUSA SIRACUSA 100 FRANCHISE JOLLY GRAND HOTEL VERDI MILÁN 100 LEASED FRAMON JOLLY HOTEL MESSINA MESSINA 96 FRANCHISE JOLLY GRAND HOTEL VILLA SAN MAURO CALTAGIRONE 91 OWNED FRAMON JOLLY HOTEL ANCONA ANCONA 88 OWNED JOLLY JOLLY HOTEL BERGAMO BERGAMO 88 LEASED JOLLY JOLLY HOTEL IGEA BRESCIA 87 LEASED JOLLY GRAND HOTEL BRISTOL RAPALLO 86 MANAGED FRAMON JOLLY HOTEL RAVENNA RAVENNA 84 OWNED JOLLY GRAND HOTEL TIMEO TAORMINA 83 MANAGED FRAMON HOTEL VILLA SANT'ANDREA TAORMINA 78 MANAGED FRAMON CRYSTAL HOTEL TRAPANI 70 LEASED FRAMON JOLLY HOTEL STENDHAL PARMA 62 FRANCHISE JOLLY HOTEL VENUS SEA GARDEN BRUCOLI 59 LEASED FRAMON JOLLY HOTEL OGNINA CATANIA 56 FRANCHISE JOLLY GRAND HOTEL LIBERTY MESSINA 51 MANAGED FRAMON RESORT BAGLIO ONETO MARSALA 48 LEASED FRAMON HOTEL MANIN VENICE 44 LEASED FRAMON

NH Annual Report 2006 20 OPEN HOTELS AND ADDITIONS IN 2007 LOCATION ROOMS CONTRACT CATEGORY GERMANY JOLLY HOTEL VIVALDI BERLIN 255 LEASED JOLLY JOLLY HOTEL MEDIAPARK COLONIA 217 LEASED JOLLY SPAIN NH CONSTANZA BARCELONA 308 LEASED CONVENTION NH FUENLABRADA FUENLABRADA 132 LEASED NH THE NETHERLANDS JOLLY HOTEL CARLTON AMSTERDAM 218 OWNED JOLLY NH WAALWIJK WAALWIJK 120 LEASED NH UNITED KINGDOM JOLLY HOTEL ST. ERMIN`S LONDON 275 OWNED JOLLY AUSTRIA NH DANUBE CITY VIENNA 252 LEASED NH UNITED STATES JOLLY HOTEL MADISON TOWERS NEW YORK 242 OWNED JOLLY BELGIUM JOLLY HOTEL DU GRAND SABLON BRUSSELS 193 LEASED JOLLY FRANCE JOLLY HOTEL LOTTI PARIS 162 OWNED JOLLY MEXICO NH SANTA FE MEXICO DF 135 OWNED NH HOTELS ROOMS TOTAL OPEN HOTELS AND ADDITIONS IN 2007 (Up to April) 66 9.756 • 63% Italy • 8% Germany • 6% Cuba • 6% Spain • 3% The Netherlands • 3% United Kingdom • 2% Austria • 2% Belgium • 2% United States • 5% Other 3% 63% 6% 2% 6% 8% 3% 5% 2% 2% BREAKDOWN OF OPENINGS BY COUNTRIES IN 2006 AND UP TO APRIL 2007

NH Annual Report 2006 21 • 25% Italy • 22% Mexico • 14% Dominican Republic • 12% Spain • 5% Austria • 5% Czech Republic • 5% Senegal • 4% Argentina • 4% France • 2% Cuba • 2% Poland 12% 25% 22% 5% 2% 5% 4% 2% 14% 5% 4% SIGNED ROOMS AND EXTENSIONS TO APRIL 2007 HOTEL SIGNED •  Organic Growth: in 2006, 3,911 rooms were signed, 40% more than the previous year. •  Excluding the acquisition of the Jolly Hotels and Framon chains, in 2006 NH Hoteles signed rooms equivalent to 10% of all operating rooms. •  The acquisition of Jolly Hotels and Framon involve 9,682 more. •  NH Hoteles signed 5,138 rooms at the end of 2006. •  In April 2007, the Group has 32 hotels and 6,139 rooms signed. HOTELS ROOMS TOTAL HOTELS SIGNED 32 5,664 TOTAL EXTENSIONS 3 475 ROOMS TOTAL SIGNED AND EXTENSIONS (UP TO APRIL 2007) 6,139 Pool of the NH Parque Central Havana - Cuba