FROM THE CEO
I was pleased to recently release Mantra Group’s annual results, which exemplified the Group’s many outstanding achievements in FY16. The Group delivered total revenue of $606.1 million (a 21.5% increase on FY2015) and underlying EBITDAI of $89.8 million (up 23.0%).
FY16 proved to be another landmark year for Mantra Group, characterised by ongoing acquisitions, product improvement, effective cost control, and strong performance in each of our operating segments. With total assets of $769 million, net assets of $463 million, strong cash flow and significant available capital, the Group is well placed to execute its focus on strategic acquisitions in FY17.
By year’s end, we increased the portfolio by 11 properties (adding more than 3,000 rooms to our inventory), making Mantra Group Australia’s fastest growing hotel group in FY16. This expansion occurred parallel to growing consumer sentiment and demand, which continues to drive strong trading conditions in CBD and leisure destinations on the back of surging Asian inbound arrivals and increased airline capacity into key destinations.
With a commitment to delivering shareholder value and sustainable growth, Mantra Group will continue to deliver on its key strategies in FY17, including portfolio expansion and the identification of diversified acquisition opportunities. On those fronts, I look forward to sharing more news with you in the months ahead.