MINOR ACQUIRES ITS FIFTH EUROPEAN TIVOLI HOTEL
Thailand-based Minor Hotel Group (MHG) has acquired the freehold interest in the 279-room Tivoli Oriente in Lisbon, Portugal, for €38.5 million (€138,000 per room). The hotel, which overlooks the River Tagus, will continue to be operated by Tivoli Hotels & Resorts under a long-term lease. This follows MHG's acquisition of six Tivoli hotels earlier this year, including four assets in Portugal and two in Brazil in a €168 million transaction brokered by HVS Hodges Ward Elliott. MHG now owns seven of the 14 hotels in the Tivoli-branded portfolio.