<article><a href="http://www.minorinternational.com/Home/Index.php">Minor International Plc</a> (MINT), one of the largest hospitality and leisure companies in Asia Pacific, announced that it would spend 168.2 million euro ($190.63 million) to acquire hotel assets in Portugal and Brazil.</article>

<a href="http://www.minorinternational.com/Home/Index.php">Minor International Plc</a> (MINT), one of the largest hospitality and leisure companies in Asia Pacific, announced that it would spend 168.2 million euro ($190.63 million) to acquire hotel assets in Portugal and Brazil.
This acquisition is the company’s first hotel investment in Europe and South America.
The company will take over Pojuca S/A in Brazil with total value of 50.5 million euro ($57.23 million) and purchase land, asset and long-term leasing contracts for four <a href="http://www.tivolihotels.com/pt/hoteis/sao-paulo/tivoli-sao-paulo-mofarrej/o-hotel.aspx">Tivoli hotels</a> in Portugal with total investment of 117.7 million euro ($133.4 million).
Pojuca S/S currently owns a Tivoli São Paulo Hotel with 220 rooms in Sao Paulo, a Tivoli Ecoresort Prais do Forte Hotel containing 287 rooms in Bahia and the right to manage all Tivoli hotels in Brazil.
In Portugal, the leasing contracts signed with four Tivoli hotels will end by 2025. The hotels comprise Tivoli Marina Viamoura with 383 rooms, Tivoli Lisboa with 306 rooms, Tivoli Carvoeiro with 293 rooms and Tivoli Marina de Portimao with 196 rooms.
The company’s statement cited that the source of fund will come from an 18-month bridging loan.
“So far, we have invested in Asia, Australia, the Middle East and Africa. Those investment has good return, so we look for more opportunity to expand our business globally to sustain and boost our profit growth in the long run,” said chief executive William Ellwood Heinecke. “These two deals are also strategic gateway to create our brand and expand other businesses in Europe and South America.”
After the acquisition is completed, MINT will recognise the revenue and profit from Tivoli hotels in Brazil immediately.
MINT has operated three core businesses, which are hotels, restaurants and retail trading. In its portfolio, it manages more than 14,000 hotel rooms across 19 countries under different brands such as Anantara, AVANI, Four Seasons, Marriott and St.Regis.
Being positive to MINT’s performance in 2015 following the recovery of Thai tourism and the launches of three new hotels, Asia Plus Securities estimated that MINT’s hotel and restaurant businesses will grow by 10 per cent this year, while store sales will increase by 2-3 per cent, up from 0.4 per cent in 2014. The net profit is forecasted to surge by 18.6 per cent on year to 5.22 billion baht.
MINT share opened at 34.50 baht per share, up 0.50 baht from previous close yesterday.
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MINT, one of the largest hospitality and leisure companies in Asia Pacific, is to spend 168.2 million euro to acquire hotel assets in Portugal and Brazil.

MINT in $190m deal for hotels in Portugal, Brazil

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