Thai hotel chain expands to Europe, South America
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Minor International (MINT) has completed the final stage of its acquisition of Tivoli Hotels & Resorts.
The acquisition, which totals 294.2 million euro, not only marks MINT’s strategic entry into Europe and Latin America, but also provides the group with a strong operating platform to drive further growth in those markets, the company said in a statement.
Tivoli Hotels & Resorts has a total portfolio of 14 properties across Portugal and Brazil, including in the capital cities ofLisbon and Sao Paolo and a number of resorts on Portugal’s Algarve.
The Tivoli acquisition is the latest in a series of international investments by MINT which over the last two years has seen the group invest over US$550 million in hotel projects in Southern and East Africa, Asia, Australia, South America and Europe.
With these additional Tivoli hotels, MINT’s overall hotel portfolio now totals 145 properties across 22 countries.
