MINOR COMPLETES ACQUISITION OF TIVOLI HOTELS & RESORTS
Minor International has completed the final stage of its purchase of Tivoli Hotels & Resorts for an investment of €294.2 million (approximately €102,000 per key), marking the Thailand-based group's entry into Europe and Latin America. HVS Hodges Ward Elliott and ESIB were co-advisors for Rioforte on the sale of the Tivoli Group, which culminated in this transaction. The Tivoli chain comprises 12 hotels across Portugal and two properties in Brazil (almost 3,000 rooms). With the aquisition of all of the Tivoli hotels now complete, Minor has 145 properties across 22 countries.