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Mantra record strong start to 2012-13 financial year

Peppers Moonah Links

An increase in both room revenue and occupancy across CBD and Resort properties has resulted in a strong first quarter for Mantra Group’s Australian hotel network with a 5.6% increase in revenue to reach an EBITDA of AUD$15.4 million, a $2.8 million increase on the same period last year.

“To have both the corporate and leisure hotel network performing well is extremely encouraging and a sign that business travel and tourism in general is thriving,” said Mantra Group CEO, Bob East.

“Rate growth in particular is a good sign for some of the Queensland leisure destinations which have experienced many challenges over the past few holiday seasons.”

The Group’s 21 CBD Mantra properties grew RevPAR by 6.3% with the mining resources boom again providing Perth and Darwin hotels the highest levels of room revenue growth at 12% (year on year). 

Corporate and conference market sectors combined to give Brisbane hotels a 5% increase in revenue, with Mantra South Bank in particular capitalising on its location next to the BCEC while an extensive refurbishment at Mantra on Queen resulted in increasing corporate business. 

Mantra’s six Melbourne CBD hotels benefitted from the influx of guests supporting interstate teams in the AFL finals and the Spring Racing Carnival in September to achieve strong occupancies and 8% revenue growth (year on year). 

Sydney and Canberra remained steady with a 2% increase in room revenue for Sydney city fringe hotels at Chatswood and Parramatta capitalising on local corporate and conferencing activity.

Mantra Group’s resort properties across Queensland enjoyed a strong first quarter with particularly high occupancy over the September school holidays.    

The Gold Coast in particular enjoyed a 16% increase in occupancy across the Group’s 20 Peppers, Mantra and BreakFree properties, compared to last year’s September school holiday period as well as strong rate growth. 

Tropical North Queensland maintained high occupancies and rate growth throughout the quarter with 12% room revenue growth and 4% increase in occupancy (year on year) resulting from an increase in demand from domestic and Asian markets.

The Sunshine Coast maintained the strong occupancy levels throughout the quarter and enjoyed a 2% increase in rate growth (year on year). 

With over 40 Peppers, Mantra and BreakFree properties across Queensland, Mantra Group is the largest accommodation provider in the State.

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