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Thailand: Bangkok-based Minor Hotel Group (MHG) has completed its acquisition of Tivoli Hotels & Resorts, a Portuguese brand with 14 properties across Portugal and Brazil.
MHG, the owner and operator of hotels and resorts in 22 countries across Asia Pacific, the Middle East, Europe, South America, Africa and the Indian Ocean, paid €294.2 million for Tivoli, marking its entry into Europe and Latin America.
The deal represents the largest-ever hospitality transaction in Portugal, and was completed in separate stages over the course of more than 12 months.
This final transaction follows MHG’s acquisition in 2015 of five Tivoli hotels in Portugal and two Tivoli hotels in Brazil, along with the Tivoli brand in Brazil.
Dillip Rajakarier, COO of Minor International and CEO of Minor Hotel Group, commented: “We are excited to add Tivoli to Minor Hotel Group’s portfolio of hotel brands. With over 80 years of history, the Tivoli brand brings with it a rich heritage, a highly experienced team and a deeply loyal customer base. The Tivoli acquisition further cements MHG’s position as a world-class hotel operator, with a portfolio now extending to Europe and South America. Looking forward, we have already planned further investment into the Tivoli hotel assets and its operating and distribution infrastructure to realize the full potential of this strategic investment.”
With these additional Tivoli hotels, MHG’s overall hotel portfolio now totals 145 properties across 22 countries. Tivoli is a member of Global Hotel Alliance, to which three of MHG’s existing brands – Anantara, AVANI and PER AQUUM – also belong.
