FROM THE CEO
Welcome to the New Year. 2016 saw a remarkable period of growth and success for the company and we look to build on this in the coming 12 months. Favourable market conditions and a tailored strategic vision place Mantra Group in a strong position to deliver shareholder value.
With Mantra Group’s Half Yearly results to be announced this month, we reflect on the AGM held late last year. Chairman of the board, Peter Bush, recapped end of financial year 2016 results with revenue of $606.1 million (21.6% increase on FY15), Underlying NPAT of $43.8 million (21.0% increase on FY15) and EBITDAI of $89.8 million (23.0% increase on FY15). FY17 EBITDA guidance of between $101 million and $107 million and net profit of $51 million to $55.5 million was also reaffirmed.
Growing revenue through strategic acquisitions remains an integral goal for Mantra Group in 2017. After the success of our purchase of Management and Letting Rights for the Ala Moana Hotel located in Honolulu, Mantra Group is exploring further opportunities in Hawaii and mainland USA. The Mantra branded hotel has transitioned smoothly, performing well above industry standard in the South Pacific market, exceeding records in Occupancy and Average Daily Rate in consecutive months. Revenue Per Available Room (RevPAR) has also seen growth above 10%, double the market average.
After seven acquisition announcements in the first half of FY17 and numerous opportunities in our Development Pipeline, Mantra Group is on track for another year of strong growth and milestones. I look forward to sharing more news of acquisitions in the near future and wish all a successful year ahead.