Minor Hotel Group has continued its global expansion with the acquisition of its first properties in Europe and South America.
The company has hit the headlines in recent years with major deals for hotels and brands in Australia, Asia, Africa and the Indian Ocean. And this global growth strategy has now continued with the acquisition of Tivoli Hotels & Resorts and six of its properties in Brazil and Portugal.
“In recent years, MINT (Minor International, Minor Hotel Group’s parent company) has focused on expansion in Asia, Australia, the Middle East and Africa. With the current portfolio already starting to bear fruit, MINT is now looking beyond for compelling opportunities that will further expand its global coverage,” explained William E Heinecke, chairman & group CEO of MINT.
Tivoli Ecoresort Praia do Forte is located in northeast Brazil
“The Tivoli Brazil portfolio not only generates immediate revenue and earnings contribution, it also allows MINT to leverage on this existing Brazil operating platform for potential expansion of MINT’s other brands and businesses into South America, and the four Portugal hotels will serve as our entry for MINT to build a strong business in Europe.”
Minor’s purchases in Brazil include the 220-key Tivoli Sao Paulo Mofarrej and 287-room Tivoli Ecoresort Praia do Forte, located close to the city of Salvador. It has also acquired the intellectual property rights to the Tivoli Hotels & Resorts brand in Brazil.
In Portugal, Minor has purchased the 306-room Tivoli Lisboa in the country’s capital, Lisbon, and three properties in the southern resort region, the Algarve – the 383-room Tivoli Marina Vilamoura, 196-room Tivoli Marina Portimao and 293-room Tivoli Carvoeiro (pictured top).
These six hotels will continue to operate within the Tivoli and Tivoli Collection brand portfolios. Tivoli is a member of Global Hotel Alliance, which also includes three of Minor’s existing brands – Anantara, Avani and Per Aquum.
Since the acquisition of Oaks Hotels & Resorts in Australia in 2011, Minor has completed a series of investments, including a stake in Maldives-based luxury brand Per Aquum, Southeast Asia’s Life Resorts, and several African properties in partnership with Sun International and Rani Investment.
It now operates a global portfolio of 125 hotels and resorts.
Source: http://www.traveldailymedia.com/