French hospitality giant AccorHotels has completed its acquisition of Australia based Mantra Group for $1.2 billion.
The takeover includes Mantra brands Peppers, The Mantra, BreakFree and Art Series, comprising 138 hotels in Australia, New Zealand, Hawaii and Bali.
The completion of the deal now gives AccorHotels a portfolio of more than 330 hotels and resorts across Australia and more than 900 in the Asia Pacific region
"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," said Michael Issenberg, CEO of AccorHotels Asia Pacific.
The Mantra Group executive team will remain in its Gold Coast office and reports to Simon McGrath, COO of AccorHotels Pacific.
Bob East, CEO of Mantra Group said: "I have enormous belief in the business and the team here is looking forward to working with Simon and AccorHotels to continue this success."
