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Minor Hotel Group acquires Tivoli Hotels for £223 million

Acquisition of 14-property portfolio marks MHG’s entry into Europe and Latin America

Minor Hotel Group (MHG) has acquired Tivoli Hotels & Resorts for £223.4 million

The acquisition of Tivoli Hotels & Resorts, a Portugal-based brand with 14 properties across Portugal and Brazil, marks MHG’s entry into Europe and Latin America and represents the largest-ever hospitality transaction in Portugal.

The Tivoli business generated revenue of £92 million in 2015. The acquisition is also timed to capitalise on recent strong growth in the Portugal market. 

Dillip Rajakarier, COO of Minor International and CEO of Minor Hotel Group, said: “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 realise the full potential of this strategic investment.”

The acquisition 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. This now gives MHG the opportunity to expand the reach of the Tivoli brand into its other areas of operation including the Middle East, Africa and Asia. 

In addition MHG intends to invest further in the Tivoli hotel assets to further enhance the positioning of the brand across its markets.

This final stage of the brand’s acquisition comprises seven hotels in Portugal, part of the overall Tivoli portfolio of 14 hotels, totalling 12 in Portugal and two in Brazil, with almost 3,000 rooms in total.  

With these additional Tivoli hotels, MHG’s overall hotel portfolio now totals 145 properties across 22 countries.

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