Accor seals Mantra takeover

SINGAPORE, 1 June 2018: AccorHotels announced, Thursday, the acquisition of Mantra Group for USD 1.2 billion.

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

AccorHotels Asia Pacific chairman and CEO, Michael Issenberg said: “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.”

Simon McGrath, COO AccorHotels Pacific and Michael Issenberg, Chairman and CEO AccorHotels Asia-Pacific celebrate the acquisition at Peppers Soul, Gold Coast

At the close of the deal, AccorHotels will 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.

Mantra Group CEO  Bob East said: “It’s 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 AccorHotels Pacific CEO, Simon McGrath, in line with all other AccorHotels Pacific business units.