AccorHotels offers over $900 million for Mantra
The French hotel group has announced an offer of $930 million dollars (780 million euros) to buy the Australian Mantra Group.
Peppers Pier Resort, Mantra Hervey Bay
The French hotel group has announced an offer to buy the Mantra group, which has nearly 20,000 rooms across Australia, New Zealand and Indonesia.
This announcement confirms the expansion strategy of the AccorHotels group in the Asia-Pacific region. Tourism forecasts are very promising for Australia, with close to a 13% increase in the number of international visitors in 2018, according to a government report. The AccorHotels group's proposal increased the value of the Mantra Group's shares, which jumped by 18%.
As of January 2017, the AccorHotels group was ranked 6th largest group of hotels and residences in the world, with 4,149 properties totaling 583,783 rooms, according to data published by Hospitality ON.