Mantra Acquires Australia’s Art Series Hotel Group


Mantra has entered into an agreement with the
Deague Group to acquire the Australian-owned Art Series Hotel
Group for approximately A$52.5 million (excluding transaction
costs), subject to customary completion conditions.

The acquisition will see seven hotels, representing more than 1,000 guest rooms and including a number
of conference and event facilities, restaurants and luxury
hotel-style amenities, added to Mantra Group’s portfolio of 128 properties and more than 21,500 rooms in
properties under management across Australia, New Zealand,
Indonesia and Hawaii.


Great view from the Pentohouse at The Johnson, Spring Hill, Brisbane Queensland

The seven hotels are:

· The Cullen, Prahran, Melbourne VIC

· The Larwill Studio, North Melbourne VIC

· The Olsen, South Yarra, Melbourne VIC

· The Blackman, St Kilda Road, Melbourne VIC

· The Chen, Box Hill, Melbourne VIC (which is
currently in the final stages of construction and is set to open
in November 2017)

· The Johnson, Spring Hill, Brisbane QLD
(pictured)

· The Watson, Walkerville, Adelaide SA

Each hotel is inspired and dedicated to
Australian contemporary artists, infusing the namesake artist’s
works and personality throughout the hotel to create unique
art-inspired experiences.

Recognising the strength of the brand in the
market, each business will continue to operate under the Art
Series brand.

Mantra Group Chief Executive Officer Bob East
said, “This acquisition enhances our existing
portfolio and presents a unique opportunity for Mantra Group to
increase its footprint across three key locations (Melbourne,
Brisbane and Adelaide) in a single transaction,” said Mr East.
“This is a rare opportunity to acquire a collection of exceptional
hotels and one which is expected to make a significant
contribution to Mantra Group’s business. These hotels have been
operated to the highest standards by a passionate and dedicated
team, and we are delighted to welcome such iconic and favoured
properties to our growing network of hotels and resorts. We look
forward to working with the owners, team members and guests to
ensure a smooth transition.”

Settlement of the ‘Art Series Acquisition’ is
expected to be completed in late 2017.

See other recent
news regarding
:
:

Mantra
,

Art Series
,

Australia
.



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