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MHP Hotel AG (von NuWays AG): BUY 04.02.2026, 09:00 Uhr von EQS Research Jetzt kommentieren: 0

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MHP Hotel 1,415 EUR ±0,00 % Lang & Schwarz

Original-Research: MHP Hotel AG - from NuWays AG

04.02.2026 / 09:00 CET/CEST
Dissemination of a Research, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.


Classification of NuWays AG to MHP Hotel AG

Company Name: MHP Hotel AG
ISIN: DE000A3E5C24
 
Reason for the research: Update
Recommendation: BUY
Target price: EUR 3.3
Target price on sight of: 12 months
Last rating change:
Analyst: Philipp Sennewald

Securing another premium mandate with Hyatt Vienna; Chg.

On Monday, MHP announced the takeover of operations of the Andaz Vienna with immediate effect. Moreover, the hotel will be rebranded as Hyatt Regency Vienna from April 2026. The transaction fits well into MHP’s long-term growth strategy, further strengthening its positioning in the premium segment while maintaining its asset-light operating model. In detail:

The 303-room house, including 44 suites, is located close to the Belvedere castle and benefits from a strong mix of leisure, corporate and MICE demand. With more than 2,000 sqm of conference and event space, the property is also clearly positioned towards business travellers and large-scale events, which should translate into an above group average F&B share (eNuW: 30%). Overall, the hotel is seen to contribute € 25m in sales in FY26, which should translate into a € 26m run-rate, including the seasonally weaker January (eNuW). This also implies a RevPar of c. € 150, which MHP should be able to improve closer toward group average (eNuW: € 175 in FY25), following the rebranding. Indicating a steady-state margin of 7%, the new house is seen to contribute strongly towards cash generation, given the low capital intensity of the operating business.

From a strategic perspective, the deal marks another step in MHP’s cooperation with leading international brands, adding a third partner next to Marriott and Hilton, thus diversifying the portfolio further. This clearly underlines the company’s appeal as a franchise and operating partners for both institutional owners and hotel brands while at the same time enhancing its visibility in key European gateway cities, now putting Vienna at the forefront with three hotels (4 if including Sheraton opening in FY27).

Importantly, the Hyatt transformation goes along with full operational continuity, as the hotel remains open throughout the transition. The existing team is retained and all bookings and contracts are honoured to support a smooth earnings contribution from day one.

Despite the two recent deal announcements, we would not rule out further additions throughout the year, expanding the pipeline, which already consists of the opening of the Sheraton Vienna (310 rooms) in 2027 and the Autograph Collection Stuttgart (132 rooms) in 2028. Please note, the company will release its Q4 hotel performance figures on February 10th.

That said, Monday’s news fully confirms our view on the case and reinforces our conviction in MHP’s premium expansion strategy. Confirm BUY with a new PT of € 3.30 (old: € 3.20) based on DCF.
 

You can download the research here: mhp-hotel-ag-2026-02-04-update-en-25bd5
For additional information visit our website: https://www.nuways-ag.com/research-feed

Contact for questions:
NuWays AG - Equity Research
Web: www.nuways-ag.com
Email: research@nuways-ag.com
LinkedIn: https://www.linkedin.com/company/nuwaysag
Adresse: Mittelweg 16-17, 20148 Hamburg, Germany
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2270956  04.02.2026 CET/CEST

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Dis­clai­mer: Die hier an­ge­bo­te­nen Bei­trä­ge die­nen aus­schließ­lich der In­for­ma­t­ion und stel­len kei­ne Kauf- bzw. Ver­kaufs­em­pfeh­lung­en dar. Sie sind we­der ex­pli­zit noch im­pli­zit als Zu­sich­er­ung ei­ner be­stim­mt­en Kurs­ent­wick­lung der ge­nan­nt­en Fi­nanz­in­stru­men­te oder als Handl­ungs­auf­for­der­ung zu ver­steh­en. Der Er­werb von Wert­pa­pier­en birgt Ri­si­ken, die zum To­tal­ver­lust des ein­ge­setz­ten Ka­pi­tals füh­ren kön­nen. Die In­for­ma­tion­en er­setz­en kei­ne, auf die in­di­vi­du­el­len Be­dür­fnis­se aus­ge­rich­te­te, fach­kun­di­ge An­la­ge­be­ra­tung. Ei­ne Haf­tung oder Ga­ran­tie für die Ak­tu­ali­tät, Rich­tig­keit, An­ge­mes­sen­heit und Vol­lständ­ig­keit der zur Ver­fü­gung ge­stel­lt­en In­for­ma­tion­en so­wie für Ver­mö­gens­schä­den wird we­der aus­drück­lich noch stil­lschwei­gend über­nom­men. Die Mar­kets In­side Me­dia GmbH hat auf die ver­öf­fent­lich­ten In­hal­te kei­ner­lei Ein­fluss und vor Ver­öf­fent­lich­ung der Bei­trä­ge kei­ne Ken­nt­nis über In­halt und Ge­gen­stand die­ser. Die Ver­öf­fent­lich­ung der na­ment­lich ge­kenn­zeich­net­en Bei­trä­ge er­folgt ei­gen­ver­ant­wort­lich durch Au­tor­en wie z.B. Gast­kom­men­ta­tor­en, Nach­richt­en­ag­en­tur­en, Un­ter­neh­men. In­fol­ge­des­sen kön­nen die In­hal­te der Bei­trä­ge auch nicht von An­la­ge­in­te­res­sen der Mar­kets In­side Me­dia GmbH und/oder sei­nen Mit­ar­bei­tern oder Or­ga­nen be­stim­mt sein. Die Gast­kom­men­ta­tor­en, Nach­rich­ten­ag­en­tur­en, Un­ter­neh­men ge­hör­en nicht der Re­dak­tion der Mar­kets In­side Me­dia GmbH an. Ihre Mei­nung­en spie­geln nicht not­wen­di­ger­wei­se die Mei­nung­en und Auf­fas­sung­en der Mar­kets In­side Me­dia GmbH und de­ren Mit­ar­bei­ter wie­der. Aus­führ­lich­er Dis­clai­mer