Keyword: Mantra Group

In a bid to gain ground in the Southeast and Midwest, Paris-based AccorHotels is acquiring 85 percent of 21c Museum Hotels for $51 million.

The $930-million sale was approved by Australia's Foreign Investment Review Board  and could be finalized as early as May.

Mantra Group must wait on the ACCC's public review results before selling off all shares to Accor.

Following a $25-million redevelopment of the grain silos in Launceston, Peppers Silo Hotel will open in April 2018.

Accor has offered $920 million to scoop up Australia's Mantra Group.

Mantra's Australian portfolio will now include seven Art Series hotels.

Involved in the design of the nine-story, 126-room Tribe Perth are Australian interior designer Travis Walton and Idle Architecture Studio.

In the long run, Marriott is poised to expand its portfolio in Sydney to anywhere between 30 and 40 hotels.

Mantra reported a net profit of $30.5 million for the six months through December, up from $24.3 million in the same time the previous year. 

In the past two years, Mantra has added 22 properties to its portfolio and currently has 127 properties in four countries.