Azora snaps up Algarve hotels By TPN/Lusa, in Business, Algarve · 23-07-2021 01:00:00 · 0 Comments
Investment manager Azora has acquired two five star hotels in the Algarve for the sum of €148 million.
The deal has been made through a purchase and management contract with Minor International (MINT), which bought the NH Hotel Group in 2018.
According to the Efe agency, which cites a document from the real estate agency, the Tivoli Marina Vilamoura and the Tivoli Carvoeiro will continue to be operated by the NH Hotel Group on behalf of MINT and will maintain the Tivoli “brand” for an initial period of 20 years, with an option to extend this period for another ten years.