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Mantra Group News




MANTRA GROUP TO MANAGE LAUNCESTON’S EXTRAORDINARY SILO HOTEL

MANTRA GROUP TO MANAGE LAUNCESTON’S EXTRAORDINARY SILO HOTEL

Mantra Group is set to manage Launceston's 108-room Silo Hotel when it opens in April next year.

Carrying the Group's preeminent Peppers brand, Peppers Silo Hotel is an inspiring $25 million redevelopment of the Kings Wharf grain silos in Launceston, Tasmania.

The ten-storey hotel will have 108 rooms, including 52 in the barrels of the former silo, and overlooks the nearby tourist drawcards of Seaport, Royal Park, the Tamar River Basin and Cataract Gorge. Four large apartments will occupy the top floor, while a restaurant, cocktail bar and large meeting room will be located on the first floor.

Peppers Silo Hotel is the third management agreement signed between Mantra Group and developer Stewart, Morris & MacLagen Group, joining Peppers Seaport Hotel, Launceston and Peppers York Cove, Tamar Valley.

Mantra Group Chief Executive Officer Bob East said the Group is thrilled to expand its presence in another key Australian tourist destination with established demand drivers.

MANTRA GROUP TO MANAGE LAUNCESTON’S EXTRAORDINARY SILO HOTEL

"The consistently high-performing hotel market in Launceston, combined with the ideal location of Peppers Silo Hotel and its unique market drivers, presented us with an exceptional opportunity to add to our existing portfolio of two hotels in the city," said Mr East.

"This acquisition comes at an opportune time in the Tasmania tourism market, with the state currently enjoying record domestic and international visitation.

"And, based on supply and demand forecasts, this strong performance is set to continue with further uplift projected.

"We're excited to again partner with Stewart, Morris & MacLagen Group on this property and believe it has great potential to service a number of markets."

Peppers Silo Hotel will be the first hotel development to open in Launceston since Mantra Charles Hotel was developed in 2010.

MANTRA GROUP TO MANAGE LAUNCESTON’S EXTRAORDINARY SILO HOTEL

"The addition of this new hotel will see Mantra Group grow its presence within the Launceston market to 268 rooms under management," said Mr East.

Developer Errol Stewart said Launceston is in need of new tourism products and has a shortage of hotel rooms in summer.

"We're confident that this unique property will operate with great success and provide travellers with high quality accommodation in Tasmania's North East," said Mr Stewart.

"With a broad target market of intrastate and interstate tourists, corporates and locals, we felt it was important to represent the original silos to ensure the history of the site was not lost.

"This concept also translates to the interior design of the hotel, where historic photography and some key pieces from the original silos will be displayed throughout the building.

MANTRA GROUP TO MANAGE LAUNCESTON’S EXTRAORDINARY SILO HOTEL

"The project also provides a major boost to the local economy, creating more than 60 direct and hundreds of indirect jobs during the construction stage and, once operational, numerous long-term hospitality jobs."

Peppers Silo Hotel is located on the corner of Lindsay Street and Kings Wharf Road, Launceston Tasmania. Its location has direct frontage to the Tamar River providing the hotel with water views and views over the many vantage points around Launceston.

About Mantra Group
Mantra Group is the leading Australian-based hotel and resort operator. Mantra Group's portfolio consists of 129 properties with more than 22,000 rooms in properties under management, across Australia, New Zealand, Indonesia and Hawaii. Operating three well-known and trusted brands – Peppers, Mantra and BreakFree - MantraGroup 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