MANTRA GROUP TIPS CAIRNS TO BE AUSTRALIA’S HIGHEST PERFORMING MARKET IN 2017
Mantra Group expects Cairns to be the best performing travel destination in Australia in 2017, forecasting its current RevPAR growth to continue into the new calendar year.
Mantra Group Chief Executive Officer Bob East said the gateway city of Cairns is bursting with new flights, which is creating strong demand for accommodation providers in the region.
“The increased air-capacity, flight affordability and the proliferation of low cost carriers into Cairns, particularly from Asia and in addition to an active domestic market, has boosted occupancies in recent years,” said Mr East.
“Cairns is well positioned to take advantage of the opportunities presented out of Asia, particularly with its large leisure travel market attracted by Cairns’ close proximity, single flight offering and favourable time zone.
“A record five million passengers passed through Cairns Airport this year, which not only bolstered business in Cairns but also in the nearby holiday hotspots of Palm Cove and Port Douglas.”
Mantra Group Executive Director of Sales, Revenue and Distribution Luke Moran said occupancies at Mantra Group properties in Cairns performed well above the industry-average this year, which is trading at 83.5% year to date, and occupancies are forecasted to grow further in 2017.
“RevPAR at our Cairns properties has grown by nearly 12% in 2016, making it one of our fastest rising destinations,” said Mr Moran.
“We’re also seeing a smoothing of the city’s traditional seasonal demand curve with high occupancies being achieved year-round.”
Other leading destinations in Australia this year are Sydney, Melbourne, Canberra, Noosa, Hobart and Launceston and they’re also forecasted to continue to perform strongly in the New Year.
These rising occupancy rates and RevPAR growth across the country are supporting a wave of new-build hotels for the Group.
In 2017, Tribe West Perth, Mantra’s Sydney Airport hotel and Mantra Macarthur Hotel in Canberra will open under Mantra Group’s management.
“Updating our existing hotel product with high quality refurbishments is also a key priority for our Group in the New Year,” said Mr East.
About Mantra Group
Mantra Group is the leading Australian-based hotel and resort operator. Mantra Group’s portfolio consists of 126 properties with more than 21,000 rooms in properties under management, across Australia, New Zealand, Indonesia and Hawaii. Operating three well-known and trusted brands – Peppers, Mantra and BreakFree - Mantra Group operates the second largest network of accommodation properties in Australia (by room number). The Group is positioned to offer both leisure and business style accommodation ranging from full-service city hotels and self-contained apartments to luxury resorts and retreats. The Group successfully listed on the ASX in June 2014 and in its first year as a public company was elevated to the ASX 200: www.mantragroup.com.au; www.peppers.com.au; www.mantra.com.au ; www.breakfree.com.au