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AccorHotels completes Manta acquisition for €830m

AccorHotels completes Manta acquisition for €830m

AccorHotels has completed the acquisition of Mantra Group today.

The deal is worth a total of AU$1.3 billion (€830 million) and sees AccorHotels become the only shareholder in Mantra.

Mantra is one of Australia’s largest hotel and resort marketers and operators with 127 properties and over 20,000 rooms in hotels, resorts and serviced apartments across Australia, New Zealand, Indonesia and Hawaii.

The properties fall under three key brands: Peppers (28 properties), Mantra (75 properties) and BreakFree (24 properties).

Mantra has more than 5,500 employees.

Its focus is on serviced apartments.

Accor’s business is mainly focused on hotel-style accommodation and its brands include Sofitel, Novotel, Mercure and ibis.

The deal was originally announced in October last year.