Mantra Group has achieved its largest year of growth since its inception in 2009, with a record number of new properties joining its hotel and resort portfolio in 2017.
Mantra Group Chief Executive Officer Bob East said the Group’s acquisition focus this year has been domestically and it’s pleased to be increasing its presence in almost every Australian state.
New properties joining the Mantra Group portfolio in 2017 include Mantra the Observatory, Port Macquarie; Mantra Club Croc, Airlie Beach; Tribe Perth, Perth; Mantra Hotel at Sydney Airport, Sydney; FV by Peppers, Brisbane; Mantra MacArthur Hotel, Canberra and the Art Series Hotel Group which includes seven additional properties.
“The number of enquiries we’ve received from hotel developers, owners and investors hit record levels this calendar year, with a year-on-year increase of 10 percent,” said Mr East.
“This interest signals positive activity in our sector and is a clear indicator of confidence in an established, well-resourced hotel operator.”
A number of new property acquisitions, which are scheduled to open in 2018 and beyond, were also signed by the Group this year.
Mantra on City Road, Melbourne is scheduled to open its doors in March 2018; Mantra at Sharks, Southport on the Gold Coast will open in April 2018 in time for the Gold Coast 2018 Commonwealth Games; Peppers Silo Hotel at Launceston Tasmania is set to open in April 2018; Mantra Epping, Melbourne will open in mid-2019; while Mantra M-City in Melbourne’s south-east is due for completion in late 2020.