Carvoeiro’s Tivoli is to reopen as a five star hotel on April 1st after its total renovation is signed off.
The hotel’s upgrade has been planned and executed under the international architecs Broadway Malyan which has added three restaurants, a pool bar, the Carvoeiro Sky Bar, and a spa and a fitness centre.
Jorge Beldade, Tivoli’s Algarve director for operations, said, "We are very excited to announce this remodeling and, above all, the complete repositioning of Tivoli Carvoeiro to a new level of excellence."
After the five-month refurbishment, the Tivoli Carvoeiro now has fewer, but larger rooms with sea view balconies.
The hotel also offers family rooms, a growing market sector, where four people can stay in comfort.
For the off-season corporate market, there is a conference area with seven rooms equipped with audio-visual and state-of-the-art lighting with a capacity to 900 people.
Tivoli Hotels & Resorts' 12 hotels in Portugal and two in Brazil, were put up for sale in 2014 by Rioforte Investments SA, part of the failed Espírito Santo Group, before a court in Luxembourg declared Rioforte bankrupt after the company failed to meet debt payments.
The Tivoli chain now is wholly owned by the Minor Hotel Group with 14 Tivoli hotels (two of them in Brazil) being added to a network of over one hundred hotels in 22 countries.
Timeline-
- January 2015: acquisition of Tivoli operations in Brazil and four properties in Portugal for €168 million (Tivoli Lisboa, the Tivoli Marina Vilamoura, the Tivoli Marina Portimão and the Tivoli Carvoeiro.) Tivoli Hotels & Resorts requested a Special Revitalisation Process to keep creditors at bay.
- June 2015: a proposal of €82.5 million for control of the Tivoli chain and a commitment to take on liabilities to €60 million.
- October 2015: acquisition of Tivoli Oriente for €38.5 million.
- December 2015: the lifting of the frozen assets of Tivoli Hotels & Resorts by a Portuguese court.
- February 2016: the acquisition of the remaining seven hotels in Portugal - Tivoli Jardim in Lisbon, Tivoli Sintra, Tivoli Palácio de Seteais, Tivoli Lagos Beach Clube & Golf, Tivoli Victoria Vilamoura, The Residences at Victoria Clube de Golfe and Tivoli Coimbra.
