AccorHotels Concludes the Acquisition of Mantra Groups


Maldives
PUBLISHED June 10, 2018

AccorHotels has announced that it has completed t 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.


"The Mantra Group is 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."Says Michael Issenberg, Chairman and CEO of AccorHotels Asia Pacific.


"AccorHotels is a significant contributor to the Australian tourism industry, and this deal is a signal of our confidence in Australia both as an attractive destination for global travellers but also as a feeder market for our the Asia Pacific and wider network."


At the close of the deal, AccorHotels will operate over 330 hotels and resorts across Australia and over 900 throughout the Asia Pacific. AccorHotels will also be the largest employer on the Gold Coast, outside of government.


"I am immensely proud of the great company weve built and what weve achieved as an Australian-based business. Its 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." Says Bob East, CEO of Mantra Group


"I have enormous belief in the business and the team here is looking forward to working with Simon and AccorHotels to continue this success."


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


"The Mantra Group brands will enhance AccorHotels portfolio and create new opportunities for our people, partners and guests. We believe that Tourism is critical to the economic growth of the region and future job creation and this deal will allow us to develop the industry further." Says Mr McGrath.


"Im looking forward to getting my feet under the desk at the Gold Coast, working with the team and getting to know the detail of this business. We welcome our Mantra colleagues to AccorHotels and together, we will benefit from our shared values, expertise and entrepreneurial spirit."


AccorHotels is a world-leading travel & lifestyle group and digital innovator offering unique experiences in more than 4,300 hotels, resorts and residences across 100 different countries.  With an unrivalled portfolio of internationally renowned hotel brands encompassing the entire range from luxury to economy, from upscale to lifestyle and midscale brands, AccorHotels has been providing savoir-faire and expertise for more than 50 years. 


In addition to its core hospitality business, AccorHotels has successfully expanded its range of services, becoming the world leader in luxury private residence rental with more than 10,000 stunning properties around the world. The Group is also active in the fields of concierge services, co-working, dining, events management and digital solutions.

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