Minor Hotel Group acquires properties in Portugal and Brazil

Minor Hotel Group (MHG) has marked its entry into Portugal and Brazil's hospitality sectors with the acquisition of six hotels.

Tivoli Ecoresort Praia do Forte, Brazil
Tivoli Ecoresort Praia do Forte, Brazil
The £125m investment includes four hotels in Portugal – one in the capital Lisbon and three in the Algarve – and two in Brazil, where MHG has also acquired intellectual property rights to the Tivoli Hotels & Resorts brand.

All six hotels will continue to operate as Tivoli and Tivoli Collection, the two brands within Tivoli Hotels & Resorts.

MHG already owns and operates hotels and resorts in 19 countries across Asia Pacific, the Middle East, Africa and the Indian Ocean. The new acquisitions form part of the brand's future expansion plans Europe and South America.

William E Heinecke, chairman and group CEO of Minor International (MINT), MHG’s parent company, said: "In recent years, MINT 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 and steepen MINT’s long-term growth trajectory.

"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."

In Portugal the properties include: the 306-room Tivoli Lisboa in Lisbon; the 383-room Tivoli Marina Vilamoura; the 196-room Tivoli Marina Portimao and the 293-room Tivoli Carvoeiro.

In Brazil they include: the 220-bedroom Tivoli Sao Paulo Mofarrej in Sao Paulo; and Tivoli Ecoresort Praia do Forte, a 287-bedroom resort in the heart of an ecological reserve on the coast close to Salvador in Bahia.

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