Thailand's Minor Hotel Group completes Tivoli acquisition
February 3, 2016
Published on Feb 3, 2016
Minor Hotel Group, the Bangkok-based company that operates the Anantara brand, has completed the acquisition of Portugal’s Tivoli Hotels & Resorts.
The deal, which is worth EUR294.2 million (US$320m), becomes the company's largest ever acquisition and marks Minor's entry into Europe and South America. Tivoli currently operates a portfolio of 14 properties across Portugal and Brazil.
"We are excited to add Tivoli to Minor Hotel Group's portfolio of hotel brands," said Dillip Rajakarier, Minor's CEO. "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 realise the full potential of this strategic investment," he added.
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