The Tivoli Hotels & Resorts chain plans to open a hotel in Chengdu, capital of Sichuan Province, this year, the first time it has made an investment in the Chinese market, Thailand’s Minor Group said in a statement in Bangkok.
In October 2015, the Minor group acquired the fifth hotel in the Portuguese Tivoli chain, the Tivoli Oriente Hotel, and now has hotel units in Lisbon and Sintra, on the outskirts of the capital, as well as in Évora and the Algarve.
Earlier this year, the Thai group – which owns and manages hotels and resorts in 19 countries in Asia Pacific, the Middle East and Africa – paid 168 million euros for two Tivoli hotels in Brazil and four properties owned by the hotel chain in Portugal. This acquisition also included hotel operation and brand rights in Brazil.
The statement said the hotel will be opened in partnership with Qingyang Limited, a Chengdu urban and rural real estate construction company.
Tivoli Chengdu will have a variety of accommodation ranging from deluxe rooms to suites and apartments for a total of 400 units.
The Tivoli Hotels & Resorts network originated in the Portuguese capital in 1933 and was sold following the bankruptcy of the Espírito Santo group. It was then owned by Espírito Santo Hotels, a subsidiary of Rioforte, the non-financial holding company of the Espírito Santo Group (GES) which was in insolvency in Luxembourg. (Macauhub)