This dissertation examines the role and impact of the M&A’s created during the economic crisis in the tourism sector on the brand strategy, and their portfolio. We analyze different theories explaining brand concept, the advantages and disadvantages of building a new brand or buying an existing brand, how the portfolio can change after the merger and the concept of rebranding to draw conclusions thought the examination of a case study based on the biggest urban hotel chain in Spain: NH Hotels and its merger with Hesperia. This research has been made through secondary data regarding the hotels chains and all the theories studied during the study research and it has been completed through an in-depth interview made by telephonic and e-mail techniques, with the marketing department of NH Hoteles in Spain. The finding of this study provides useful information regarding brand strategies and portfolio strategies acquired during the economic crisis for many hotels and others industries.