Thai hotel group Minor buys Tivoli properties in Portugal, Brazil

February 2, 2016 6:26 PM

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LISBON Feb 2 Thai hotel group Minor International has made its biggest ever acquisition with a 294 million euro ($320 million) deal to buy 14 Tivoli chain hotels that belonged to the collapsed Espirito Santo Group,

The purchase of the properties in Portuagl and Brazil is part of Minor's aggressive eoverseas expansion plan. The group said last year that it wanted to have 190 hotels by 2019. The Tivoli deal lifts its tally to 145.

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