DEAL OF THE YEAR AWARDED TO MANTRA GROUP AT HOTELSWORLD
Australian hoteliers Mantra Group were awarded ‘Deal of the Year under $50 million’ for the acquisition of the four Outrigger Australian properties at the annual Hotelsworld conference held in Sydney this week
The $29.5 million deal which saw an additional 1,129 rooms added to the Mantra Group hotel portfolio was recognised as the stand out acquisition for the Australian hotel industry in 2015, chosen from 30 nominations and 4 finalists.
Mantra Group Director of Acquisitions, Michael Moret-Lalli said the deal aligned with Mantra Group’s growth strategy to deliver shareholder value and expand in key tourism destinations with the four hotels located on the Sunshine Coast, Gold Coast, Tweed Coast and Airlie Beach.
“This was a rare opportunity to acquire some exceptional hotels and in line with our growth strategy, a strong investment opportunity for Mantra Group."
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Pictured: Michael Moret-Lalli with Mantra Group CEO Bob East