Resorts 8 NH Annual Report 2006 49

NH Hoteles continues with its expansion in the resorts segment, where during 2006 and 2007 (up to April) it has incorporated 7 more hotels into its vacation hotel portfolio. With the opening of the 690-room NH Krystal Laguna Villas & Resort hotel in Cuba, and the integration of 6 hotels from the Italian company Framon, located mainly in Sicily, NH Hoteles has doubled its resort portfolio in 2007, reaching 2,866 rooms. The company also has another 6 projects more under construction that would mean more than 2,000 new rooms in this segment. During 2006/07 (up to April), 3 new projects located in the Dominican Republic and Italy have been incorporated. Signed projects in 2006/07 Dominican Republic In the Dominican Republic two hotels have been signed, which means more than 1,000 new rooms. The complexes will be located on the well-known Bavaro beach, situated in the middle of an excellent mangrove forest that is rated as one of the best sites on the world for its crystalline water and the white sand of its beach. One of the hotels will have 660 “all inclusive” superior rooms, and the second will be a hotel with 375 exclusive 5-star rooms, both situated on a 350 m beach front across 35 hectares of land.   Amalfi (Italy) The Gran Hotel Convento of Amalfi will open in 2008 in the Gulf of Salerno. The establishment, which is a 5-star hotel, will have 53 rooms and will become one of the most exclusive tourist resorts in the area.   NH Annual Report 2006 50 NEW RESORTS PROJECTS Continent Country Location Rooms Contract AMERICA Dominican Republic Bávaro 660 5% Owned 375 5% Owned Cap Cana 200 25% Owned Mexico Riviera Maya 550 20% Owned EUROPE Italy Sicily-Ragusa 217 51% Owned Amalfi 53 Leased Hotels Rooms TOTAL NEW RESORTS 6 1,740 NH Krystal Puerto Vallarta Mexico

NH Annual Report 2006 51 OPENED RESORTS Continent Country Location Hotel Rooms Contract AMERICA Cuba Cayo Coco NH Krystal Laguna Villas and Resort 690 Managed Mexico Puerto Vallarta NH Krystal Puerto Vallarta 533 Managed Cancun NH Krystal Cancún 325 Managed Ixtapa NH Krystal Ixtapa 255 Managed Veracruz NH Krystal Veracruz 108 Leased EUROPE Spain Marbella NH Alanda 199 Leased Sotogrande Almenara 148 Owned Italy (Framon) Rapallo Grand Hotel Bristol 148 Managed Valderice Tonnara Di Bonaggia 102 Leased Taormina Grand Hotel Timeo 83 Managed Villa Sant´Andrea 78 Managed Brucoli Hotel Venus Sea Garden 59 Leased Marsala Resort Baglio Oneto 48 Leased Germany Baden-Baden Schlosshotel Buhlerhohe 90 Leased Hotels Rooms TOTAL OPEN RESORTS 14 2,866 Hotels Rooms TOTAL OPEN AND SIGNED RESORTS 20 4,921 •  2005 •  2006/07*        * Until April 2007 0 500 1,000 1,500 2,000 3,000 2,500 1,658 Rooms 7 Hotels 2,866 Rooms 14 Hotels GROWTH IN THE RESORT SEGMENT OF NH HOTELES