FROM THE CEO
Welcome to the ADVANCE. In this edition, we focus on projections for growth, outstanding new signings and our annual results for FY17.
I was delighted to announce Mantra Group’s annual report after another record year in FY17.
The group delivered total revenue of $689M (up 13.7% on FY16), underlying EBITDAI of $101.2M (up 12.7% on FY16) and underlying NPAT of $47.2M (up 14.2% on FY16).
These results are characterised by the successful integration of substantial acquisitions to the Group’s portfolio, effective cost control strategies and performance in each of our operating segments.
With total assets of $806.3M, net assets of $477.9M and strong cash flow, Mantra Group is well positioned to provide shareholder value. FY17 provided growth in quality inventory, with six new properties added in key CBD and Leisure markets, representing a year on year increase of circa 10% in keys under management.
We now take strong momentum into the beginning of this financial year with the Art Series Hotel Group and a number of other properties scheduled to enter the portfolio in the coming months. Our growth outlook remains extremely positive with our acquisition pipeline providing further high quality and large volume expansion opportunities. With this in my mind, I am expecting a busy and prosperous year for the Group in FY18.