MANTRA GROUP TAKES OVER OUTRIGGER
Mantra Group advised the ASX a fortnight ago of its successful bid to purchase Outrigger Hotels and Resorts Australia Pty Ltd. Comprising a total of 984 keys under management, the consolidated transaction represents a significant investment and complements Mantra Group’s existing portfolio of 116 properties. The portfolio consists of the following properties:
Outrigger Surfers Paradise;
Outrigger Twin Towns Resort, Coolangatta;
Outrigger Little Hastings Street Resort & Spa, Noosa; plus
Boathouse Apartments by Outrigger, Airlie Beach.
The four new properties offer high quality full resort facilities and are located in Australia’s premier holiday destinations, where Mantra Group has a long-standing and high performing presence. The transaction will settle prior to June 2015.
MANTRA COLLINS HOTEL, HOBART
Mantra Group’s portfolio of Mantra branded properties continues to surge beyond 60 hotels, resorts, and apartments. Next to open will be Mantra Collins Hotel in Tasmania’s picturesque capital city of Hobart, when Mantra Group takes over the long term management of Hotel Collins on 1 May, 2015.
Hotel Collins was constructed in 2009 and boasts an enviable CBD location, close to the heart of Hobart‘s acclaimed waterfront district. Rising from the building's original 1950's facade, the modern hotel tower consists of 80 stylish guest rooms and apartments, a boardroom for private meetings and a 50 seat restaurant.
Hobart has been one of Australia’s best performing markets in recent years, with Savills Research reporting city-wide occupancy of 84.3% in 2014, placing the city ahead of all other Australian capitals. The success and profile of the Museum of Old and New Art (MONA), along with the city’s year-round calendar of world-class events, plus rich natural and built heritage, position Hobart as one of Australia’s most appealing cities and Mantra Collins Hotel will be one of the finest full service city hotels on offer.
MANTRA CHARLES HOTEL, LAUNCESTON
Hotel Charles opened to wide acclaim in July 2010 as part of one of Launceston’s most iconic redevelopments. On May 1, the property will be rebranded to Mantra Charles Hotel, when Mantra Group takes over the long term management of the hotel. Within the stunning art deco building are 99 contemporary hotel rooms, a 60 seat restaurant, conference room, guest lounge, private dining room and boardroom.
Arguably Launceston’s premier hotel (supported by its regular ranking at #1 on TripAdvisor) Hotel Charles is located on cosmopolitan Charles Street, just a five minute walk to the heart of Australia’s third oldest CBD.
When Mantra Charles Hotel opens it will increase the number of Mantra Group properties in Tasmania to six, joining Mantra One Sandy Bay Road and Mantra Collins Hotel in Hobart, plus the three regional Peppers properties – Peppers Seaport Launceston, Peppers York Cove and the iconic Peppers Cradle Mountain Lodge.