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Mantra Group takes over Diamant Brisbane

Diamant Brisbane O Bar

Mantra Group is adding the hip Diamant Hotel Brisbane to its portfolio.

The hotel, run by 8Hotels, has been purchased with vacant possession by Singapore-based family investment company, Well Smart Investment Holdings, who will appoint Mantra under a Management Agreement.

The hotel will be rebranded as Mantra Astor Terrace Brisbane in July and will take the Group’s network to a total of 118 properties and over 12,000 rooms under management.

“Our business continues to grow with no less than 11 new Australian hotel acquisitions signed for FY14 plus continued expansion in Asia,” said Mantra Group CEO, Bob East.

“By July we will offer four hotel options in Brisbane under the Mantra brand which further strengthens our presence in all Australian capital cities.”

Comprising 84 rooms, the modern four star boutique property was constructed in 2009 and is centrally located just one kilometre from Brisbane’s CBD. The property also includes the stylish ‘O Bar & Restaurant’ on street level.

The announcement follows last week’s acquisition by Mantra of the management and letting rights for Mint Hotel and Apartment properties in Brisbane and Melbourne.

The properties will rebrand as Mantra Riverside Brisbane (a 185 suite apartment hotel) and Mantra St Kilda Road Melbourne (offering 159 hotel rooms and suites) next month.

The new properties will join the Group’s other Brisbane hotels, Mantra South Bank and Mantra on Queen, and take the overall Mantra network to 57 hotels in total in Australia and New Zealand.

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