Event Hospitality and Entertainment Limited says it remains focused on the continued growth and development of its leading designer hotel brand, QT Hotels and Resorts, following the departure of the Art Series Hotel Group properties from the portfolio.
Art Series Hotel Group was yesterday (Aug 7) sold by owners the Deague Group to Mantra Group for AUD$52.5 million and as a result, Event will no longer have a marketing and distribution agreement for the designer properties.
“We have enjoyed a great relationship with Deague Group assisting them with marketing and distribution support,” said Norman Arundel, General Manager Rydges Hotels and Resorts and who oversees all managed properties for Event.
“We are extremely pleased with the success of our designer hotel brand QT Hotels and Resorts and we will continue to focus on developing it both here in Australia and internationally,” he said.
Event has managed the Art Series Hotel Group on behalf of Deague Group since the opening of the first Art Series hotel, the Cullen in Prahran, in 2009.
Deague Group CEO, Will Deague, said: “Event has played an integral role in the success of the Art Series Group. We hold them in very high regard and thank them for their efforts over the years.”
QT Hotels and Resorts will continue to expand over the coming months, with QT Queenstown debut to make a full debut in November 2017, followed by QT Perth in 2018.
Speaking exclusively to HM yesterday (7 Aug), Deague Group CEO, Will Deague, said he was proud of what Art Series had accomplished since he came up with the concept of the company in 2001.
“Over the past decade we have been deeply passionate about growing the Art Series Hotel Group around Australia and hosting millions of art-inspired experiences for guests,” he said.
“The hotels have achieved countless accolades and awards and are regularly noted on the hottest hotel lists Australia and overseas.
“We are very proud of what our team has achieved and are excited to hand over the brand to Mantra Group who will build the brand to future success.”
Deague told HM Mantra Group have confirmed it will be business as usual for Art Series Hotel Group and all agreements with namesake artists will remain unchanged and the new owners will focus on fostering new relationships with artists for future hotel properties.
It is on the back of the strength of the brand in the market, Mantra Group says, that each hotel will continue to operate under the Art Series brand.
Mantra Group CEO, Bob East, said the deal represents a sizeable addition to Mantra Group’s already expansive Australian portfolio.
“This acquisition enhances our existing portfolio and presents a unique opportunity for Mantra Group to increase its footprint across three key locations (Melbourne, Brisbane and Adelaide) in a single transaction,” he said.
“And we have arrangements in place that should deliver new Art Series properties into the future.
“This is a rare opportunity to acquire a collection of exceptional hotels and one which is expected to make a significant contribution to Mantra Group’s business.”