FROM THE EXECUTIVE DIRECTOR of ACQUISITIONS
Welcome to ADVANCE. In this edition we focus on recent development outcomes, pipeline opportunities and new hotels joining the Mantra Group.
FY17 has proved to be prosperous for Mantra Group so far with the acquisition of 6 hotels, adding 16.2% to rooms under management in a growing portfolio. A pleasing aspect of these additions is the geographic reach it represents with new hotels in NSW, QLD, WA and an international destination in Hawaii. Already the largest Australian based hotel operator, Mantra Group is committed to domestic and international growth in FY18.
This year, the volume of enquiries we are receiving from hotel developers, owners and investors has hit record levels with a year on year increase of 10%. This interest signals positive activity in our sector and is a clear indicator of confidence in an established, well-resourced hotel operator. Mantra Group’s expansive portfolio of 128 properties sees us engaging with owners and developers both domestically and abroad with activity levels largely influenced by market conditions and trends in visitation. During 2017, we have observed strong enquiry numbers originating from Queensland, Victoria, multiple destinations in South East Asia and North America.
Mantra Group is well placed to continue delivering superior growth with the quality of these enquiries evident in the strength of our acquisition pipeline. I look forward to capitalising on these opportunities and making further announcements in the near future.