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Mantra Group Continues to Grow Its Portfolio

Mantra Group (“Mantra” or “the Group”) is set to increase its portfolio with the signing of six new properties which will add 799 rooms to the Group’s portfolio of hotels, resorts and serviced apartments across Australia, New Zealand, and Indonesia.

Following the acquisitions, Mantra Group will manage 117 properties with over 12,000 rooms in total.


THE GROUP IS ANNOUNCING:

  • Acquisition of the management and letting rights for Mint Hotel & Apartment properties in Melbourne and Brisbane
  • The rebrand of the Best Western Hotel to Mantra Wollongong, following a management agreement signed with new owners Moss Capital
  • The signing of new development properties in Perth, Melbourne and Townsville

ACQUISITIONS

Mantra Group has acquired the Management Rights for the Mint Hotel & Apartment properties in Melbourne and Brisbane with the properties to rebrand next month as Mantra St Kilda Road Melbourne (offering 159 hotel rooms and suites) and Mantra on the Quay (a 185 suite apartment hotel).

Mint Hotels & Apartments (StayMint Pty Ltd) is a wholly owned subsidiary of Ariadne Australia Limited.  The transaction is in line with Ariadne's strategy to divest in non-core hotel assets and for Mantra, the well maintained properties constructed in 2011 and 2007 respectively, will further boost their solid networks of six Melbourne and two accommodation Brisbane CBD properties.

"Both properties offer upmarket accommodation options in vibrant, popular precincts of Melbourne and Brisbane that will bring even greater choice to our hotel networks in these cities," said Mantra Group CEO, Bob East.

Stylish contemporary suites and apartments with gym and pool facilities as well as easy access to CBD attractions and venues are offered by both properties.  The Melbourne property also offers a restaurant and bar plus conference facilities for 120 people and meets the highest standards in environmentally sustainable design (5.5 star energy rated).


NEW PROPERTIES

In Perth CBD, a new build Mantra hotel development is set for the King Square precinct just 500 metres from Perth Arena, the city's major entertainment venue.

"This is an exciting development for Perth and we are pleased to provide a brand new accommodation option for leisure and corporate guests" said Mr East.

Mantra King Square Perth will include a restaurant, meeting facilities, and 120 hotel rooms across 15 levels of accommodation.  The $25 million development is being built by WEJ Developments WA Pty Ltd and set to open late 2015.  Mantra Group will operate the 4 star property under a twenty-year Hotel Management Agreement. The development of the King Square precinct is currently underway by Leighton Properties.

The King Square property demonstrates another show of faith in WA capital's accommodation market. It will join Mantra's two CBD properties and three regional properties in Bunbury, Geraldton and Broome.

New build pipeline is also strong with recently signed projects in the key regional and CBD locations of Townsville (181 room Manta Townsville hotel) and Melbourne (100 room Peppers Docklands hotel) set to commence construction within the next 3 months.

"The addition of these new properties is not only complementary to our existing portfolio, but reinforces the strong momentum in our organic growth strategy and consistent ability to convert our pipeline" said Mr East.

Mantra Group is a leading manager and marketer of hotels and resorts in Australia, New Zealand and Indonesia. The Group owns and operates three well-known and trusted brands – Peppers, Mantra and BreakFree.  Mantra Group is the second largest accommodation operator in Australia and offers both leisure and business style accommodation ranging from self-contained apartments to luxury resorts and retreats.