AccorHotels has announced that the acquisition of Australian hotel group Mantra has been completed in a transaction valued at €830m (£727m).
Mantra owns 127 properties and over 20,000 rooms in hotels, resorts and serviced apartments across Australia, New Zealand, Indonesia and Hawaii.
At the the time of the initial purchase, Sébastien Bazin, chairman and CEO of AccorHotels, said: “We are delighted to have come to an agreement to acquire the Mantra Group. This operation will underpin our long-term growth in the Asia Pacific region.
“Mantra’s portfolio would offer AccorHotels additional accommodation formats and a strong customer base to complement our successful hotel portfolio in Australia. We are confident that the transaction terms are attractive for shareholders of both groups.”
Source: FS – All – Hotels – blogs
AccorHotels completes £727m Mantra acquisition