Following Ala Moana buy, Australia's Mantra Group seeks more U.S. assets

Australia's Mantra Group bought Outrigger Enterprises Group’s interest in Honolulu’s Ala Moana Hotel for $52.5 million earlier this year. Since the acquisition, the Ala Moana has reportedly seen record occupancy and room rates in its first three months of operation under the Mantra banner, so the company is looking to acquire more Hawaiian assets. 

Mantra boss Bob East told the Gold Coast Bulletin that the group is seeing more offshore opportunities, and would like to make more U.S. purchases. 

Still, with Australia’s hotel scene booming, East said that Mantra will remain focused on its homeland, with new large-scale hotels on the Gold Coast set to enter its portfolio in 2019. “We believe the Gold Coast will continue to be Australia’s most popular resort destination,” he said. “We are looking at resorts of significant scale that are new-build opportunities. Most of our growth will be in Australia and New Zealand.”

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Mantra chairman Peter Bush yesterday said Mantra’s share price had risen 78 percent since listing in June 2014. The company, which posted FY16 net profit of $37.1 million, an increase of 2.7 percent, reaffirmed its FY17 EBITDA guidance of between $101 million and $107 million and net profit of between $51 million and $55.5 million.

Suggested Articles

From services to small products in the bathroom, these guest amenities will become guest expectations in the near future.

With demand for contactless experiences on the rise and new programs coming online, property-management systems are evolving.

During the “Best Practices in Cleaning” panel, insiders shared how hoteliers can keep guests and employees safe.