United Kingdom
United States
Asia Pacific
Mantra Group acquires Outrigger Hotels’ Australian unit
Australian hospitality firm Mantra Group will take over the Australian unit of Outrigger Hotels & Resorts in an agreed A$29.5 million (US$22.6 million) acquisition.
Mantra take over four resorts – Outrigger Surfers Paradise, Outrigger Twin Towns Resorts, Coolangatta, Outrigger Little Hastings Street Resort & Spa, Noosa and Boathouse Apartments by Outrigger Airlie Beach, with a combined 984 rooms under its management.
Mantra will purchase all issued shares in Outrigger Australia and expects the deal to complete by June.
“The Outrigger acquisition is a natural fit for Mantra Group, extending the group’s footprint in key leisure destinations,” said Bob East, Mantra Group CEO.
“This acquisition is complementary to our existing portfolio and, together with future pipeline growth initiatives, is expected to supplement Mantra Group’s strong organic growth with incremental earnings.”
Mantra Group has a portfolio of more than 11,000 rooms under management in Australia, New Zealand and Indonesia, operating three brands – Peppers Mantra and BreakFree.
Related News Stories:
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls
Unexpected wave rocks cruise ship