Thailand-based hotel group Minor International announced the sale of two Tivoli brand hotels in Portugal’s Algarve region. They have been purchased by Azora European Hotel & Lodging for €148 million euros ($174 million).
A Minor subsidiary will continue to operate the hotels under the Tivoli brand. Minor has a large portfolio of more than 500 hotels and rental apartments across multiple brands including Tivoli as well as NH Hotels, Anantara and Avani.
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