THE $1.2 billion acquisition of Mantra Group by AccorHotels (TD 09 Oct) was finally settled yesterday, with the deal seeing the firm’s portfolio grow by 138 hotels across Australia, New Zealand, Hawaii and Bali.
AccorHotels Asia Pacific chairman and ceo Michael Issenberg said the takeover was the latest chapter in the group’s strong regional growth story.
“Since our launch with the Novotel Sydney in 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,” Issenberg said.
He said the deal was a signal of the company’s confidence in Australia, both as an attractive destination in its own right and also as a feeder market for AccorHotels’ global network.
AccorHotels now operates more than 330 properties in Australia and over 900 in the Asia Pacific.
The group is also the largest private sector employer on the Gold Coast, where the Mantra team will continue to be based, reporting to AccorHotels chief operating officer Simon McGrath.
Source: traveldaily