Minor International has bought the Tivoli Hotels & Resorts business in Brazil, along with associated properties in Portugal. The EUR168m deal extends Minor’s business into Europe and South America for the first time.
In Brazil, Mint gets two hotels and expects to expand the Tivoli brand. It also now owns four Portuguese hotels, which remain leased to the owner of the Tivoli brand in the country, and will continue to trade under the brand.
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