Mantra Group continues to kick goals as the largest Australian-owned hotel and resort operator.
Mantra Group Executive Director of Acquisitions Michael Moret-Lalli, who recently celebrated his ninth year in the role, said more than 2,400 new rooms were added to the Group’s portfolio in FY17, across all brands and operating models.
“The group also has 22 new properties, representing more than 4,300 rooms, currently in our acquisition pipeline with our expansion focus remaining in Australia and New Zealand,” said Mr Moret-Lalli.
“We’re observing an emerging trend of developers opting away from straight residential developments with permanent or long stay unit owners/tenants, to more mixed-use developments with a large component of short stay accommodation alongside some retail and tenancies.
“Mantra Group’s expertise in the Management Letting Rights space has us well placed to assist these developers to enhance their yield.”
The popularity of the Mantra brand continues to grow with the company receiving a 20 percent year-on-year increase in requests for properties to carry the Mantra branding.
There are now 75 Mantra properties in the Group’s portfolio after the opening of four new hotels last financial year.
“39 of these properties deliver a leisure tourism experience while the other 36 are more geared to meet the needs of the corporate traveller,” said Mr Moret-Lalli.
“We’ve also seen a 43% increase in Management Agreements in the past year, with the majority of these enquiries originating from Victoria.”
He said another interesting milestone set in FY17 was that Mantra Group now manages 10 properties with more than 400 rooms/apartments.
“Our Hawaiian property, Ala Moana Hotel by Mantra, alone has more than 1,000 rooms.”