FROM THE CEO
All of us at Mantra Group will reflect on 2014 as a year of many ‘firsts’, following our successful transition to a publicly listed company. Though our structure changed, it has been ‘business as usual’ at the coal face of our 116 hotels, where the outstanding contributions by our team of almost 4,000 hospitality professionals continue to power our success.
At the time of writing, we are still some weeks away from reporting our company’s results for the first half of FY15, so I will instead take this opportunity to comment on the Australian hotel market more generally.
As reported by leading analysts, STR Global, the first half of FY15 has been characterised by year-on-year growth in occupancy and average room rates across six of Australia’s nine major hotel markets. Of particular interest has been a 5% surge in Gold Coast average occupancy levels (to 74.4%) and a 6% increase in Cairns (to 80.7%). This further evidence of rejuvenated trading conditions in Australia’s iconic leisure destinations is very encouraging, particularly in view of the recent opening of Mantra Group’s 50th Queensland hotel.
In Australia’s capital city markets, performance outcomes to December have contradicted many forecasters’ predictions that sustained growth would be unachievable. Only Canberra, Darwin, and Perth recorded a decline in revenue per available room (RevPAR) in the first half of the year, while the key markets of Sydney, Melbourne, Brisbane, and Adelaide all delivered RevPAR growth - on top of already historic highs.
We will continue to work hard to see Mantra Group capitalise on the favourable trading conditions currently being enjoyed across the country, and we wish you equal success in 2015.