We are pleased to announce the acquisition of an iconic hotel group and an impressive new build in Melbourne.
Art Series Hotel Group
Mantra Group has entered into an agreement with the Deague Group to acquire the Australian-owned Art Series Hotel Group for approximately $52.5 million. The acquisition will see seven luxury hotels (representing more than 1,000 guest rooms and including a number of conference and event facilities, restaurants and luxury hotel-style amenities) added to Mantra Group's ever-expanding portfolio of 128 properties and more than 21,500 rooms in properties under management across Australia, New Zealand, Indonesia and Hawaii.
The seven hotels are:
The Cullen, Prahran, Melbourne VIC
The Larwill Studio, North Melbourne VIC
The Olsen, South Yarra, Melbourne VIC
The Blackman, St Kilda Road, Melbourne VIC
The Chen, Box Hill, Melbourne VIC (which is currently in the final stages of construction and is set to open in November 2017)
The Johnson, Spring Hill, Brisbane QLD
The Watson, Walkerville, Adelaide SA
Mantra Epping Melbourne
One of Greater Melbourne’s fastest growing areas will benefit from a $70 million hotel development that will service the rapid increase of activity in Melbourne’s booming northern suburbs.
Epping will be the site of the 214-room hotel that is being designed to capitalise on both the history of the northern suburbs and the unique attributes of Epping today.
The hotel is being developed by Too Build and will be operated by Mantra Group.
Operating as Mantra Epping Melbourne, it will feature both hotel rooms and apartments, a café/restaurant, brewhouse, conference and meeting facilities, gymnasium, and an open car park containing 143 marked bays and secure bicycle storage.
Occupying a prime corner position at 250 Cooper Street within the prestigious Northpoint Enterprise Park at Epping, Melbourne’s fastest growing expansion corridor just 18km north of the CBD, the four-star, two-wing hotel has been designed by leading architect Peddle Thorp and Bruce Henderson Interiors.
Mantra Group Chief Executive Officer Bob East said the Group is thrilled to operate this new-build hotel under a hotel management agreement.
“This acquisition comes at an opportune time in the Australian hotel market, with hotels in Melbourne and surrounds experiencing substantial uplift in demand in recent years,” said Mr East.
“With its strong and varied accommodation demand drivers, we’re confident this hotel will provide a marketleading hotel offering, well positioned to become the region’s premier corporate, meetings and leisure hotel.”
Too Build Chief Executive Officer Ian Wilson said the project is perfectly timed to accommodate the next stage of growth for Epping.
“What’s exciting to me is to create something I know the local community – traders and residents alike – will really want to spend time in whether they have guests staying at the hotel or not. Mantra Epping Hotel will become a proud part of the local community and a favourite meeting spot,” said Mr Wilson.
Located right near Melbourne’s new wholesale fruit, vegetable and cut flower market and The Northern Hospital, construction is due to start in the latter part of 2017 with opening scheduled for mid-2019.