AccorHotels completes $1.2 billion Mantra acquisition

AccorHotels completes $1.2 billion Mantra acquisition
AccorHotels completes $1.2 billion Mantra acquisition

AccorHotels today announced that it has completed its acquisition of Mantra Group for $1.2 billion.

The deal includes the Mantra, Peppers, BreakFree and Art Series brands, representing 138 hotels in Australia, New Zealand, Hawaii and Bali.

Michael Issenberg, chairman and CEO of AccorHotels Asia Pacific described the Mantra Group as the "latest chapter" in the strong growth story of AccorHotels in the region. 

"Since our launch with the Novotel Sydney on Darling Harbour in 1991, AccorHotels has become the largest hotel group in the Pacific, and Australia has always played a key role in that story.

 AccorHotels will now operate over 330 hotels and resorts across Australia and over 900 throughout Asia Pacific.

AccorHotels will also be the largest employer on the Gold Coast, outside of government.

Simon McGrath, COO of AccorHotels Pacific noted the Mantra Group had built an innovative business "focused on the best partnership experience for its 10,000 strata title owners."

Bob East, CEO of Mantra Group said it had been "an enjoyable journey for me leading the team since 2007 through to our float on the ASX in 2014 and now closing this deal with AccorHotels..” 

The Mantra Group leadership team will continue to be based in the Gold Coast office, reporting to Mr McGrath, in line with all other AccorHotels Pacific business units. 

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Mantra Group Accommodation

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