Tivoli Hotels sold in Portugal’s largest ever hotel deal

Owner and operator of hotels and resorts in 22 countries across Asia Pacific, the Middle East, Europe, South America, Africa and the Indian Ocean, Minor Hotel Group has taken over well-known, Portugal-based Tivoli’s 14 properties - 12 of which are located in Portugal and 2 in Brazil. “This is the start of a new cycle, a promising one, in the heart of the Minor Hotel Group,” said Tivoli CEO Filipe Santiago. The deal, which was was completed in stages over the course of more than 12 months, represents the largest-ever hospitality transaction in Portugal and follows recent strong growth in Portugal's tourism market. Dillip Rajakarier, COO of Minor International and CEO of Minor Hotel Group, commented, "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 Tivoli acquisition is the latest in a series of international investments by Minor Hotel Group, which over the last two years has invested over USD $550 million in hotel projects in Southern and East Africa, Asia, Australia, South America and Europe. MHG's overall hotel portfolio now totals 145 properties across 22 countries.

Tivoli Marina Vilamoura