Science

Thailand's Minor Group to acquire hotels in South America, Africa (dpa German Press Agency)

Bangkok (dpa) – Thailand-based Minor International is planning to boost its hotel portfolio by 50 per cent to 190 properties by 2019, a company representative said Tuesday.
Currently the group owns 126 hotels around the world through five different brands: Anantara, Oaks, Per Aquum, Elewana and Avani.
“We are always looking to expand where there is opportunity, right now our interests are in South America, Australia and Africa,” a company press officer told dpa.
In January the group bought two hotels in Brazil and four in Portugal from the Tivoli Group for 168.2 million euros (188.2 million dollars).
On Monday the group announced that it had earmarked 18.5 million dollars to renovate the Four Seasons Hotel in Bangkok which will be rebranded the Anantara Siam Bangkok.
“It’s a good time to expand business in Europe and South America,” chief executive William Heinecke told reporters at the rebranding announcement.
“The economic doldrums in Europe have lowered investment costs.”