Minor Hotel Group, parent company of Anantara, Avani and Per Aquum, has completed ts acquisition of Portugal-based Tivoli Hotels & Resortsi for €294.2m (US$321.9m, £233m). Tivoli has 12 properties in Portugal and two in Brazil, many of which operate spas.

The acquisition was completed in separate stages over the course of more than 12 months, and brings Minor’s overall hotel portfolio to 145 properties across 22 countries, and marks its entry into Europe and Latin America.

Minor said the acquisition gives it a strong operating platform to drive further growth in these markets, as well as to expand the reach of the Tivoli brand into its other areas of operation, including the Middle East, Africa and Asia.

“With over 80 years of history, the Tivoli brand brings with it a rich heritage, a highly experienced team and a deeply loyal customer base,” said Dillip Rajakarier, COO of Minor International and CEO of Minor Hotel Group.

“The Tivoli acquisition further cements MHG’s position as a world-class hotel operator, with a portfolio now extending to Europe and South America. Looking ahead, we have already planned further investment into the Tivoli hotel assets and its operating and distribution infrastructure to realise the full potential of this strategic investment.”

The final stage of the brand’s acquisition includes seven hotels in Portugal, including the 119-bedroom Tivoli Jardim Lisboa, the 280-bedroom Tivoli Victoria Vilamoura Golf Resort & Spa and the 77-bedroom Tivoli Sintra Hotel in the UNESCO World Heritage Site of Sintra.

Several of the Tivoli spas have been operated by Banyan Tree in the past, as Spa Business detailed in a 2012 report.