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ACCC green light for Accor’s acquisition of Mantra

March 9, 2018 Headline News No Comments Email Email

The Australian Competition and Consumer Commission (ACCC) has confirmed it will not oppose the proposed acquisition of Mantra Group by AAPC Limited (Accor), clearing the way for AccorHotels to add all Mantra’s 127 hotels to its network across Australia, New Zealand, Indonesia and the United States (Hawaii).

Both parties said they expected the transaction to complete by the end of the first quarter 2018, subject to the usual regulatory and shareholder approvals.

The move will push AccorHotels’ network to over 370 hotels in the Australasian region.

The ACCC noted that Accor’s business is mainly focused on hotel-style accommodation and its brands include Sofitel, Novotel, Mercure and ibis. Mantra’s focus is on serviced apartments, which it offers through its Peppers, Art Series, Mantra and Breakfree brands.

“The combined Accor-Mantra will still compete with other international and national hotel chains, as well as many independent hotels and accommodation providers,” ACCC chairman Rod Sims said.

“The combined Accor-Mantra will have a large number of properties in some areas, particularly in certain holiday destinations in Queensland. However, in each case and after a detailed review the ACCC has found that there are also sufficient other options nearby for visitors which will provide competition to Accor-Mantra.”

AccorHotels’ new Sofitel Sydney Darling Harbour, with the group’s Novotel and Ibis properties visible in the background

Accor is part of one of the world’s largest hotel and tourism groups, AccorHotels. AccorHotels is listed on the French Stock Exchange. In Australia, Accor has a network of over 200 hotels and offers a range of short-term accommodation options.

Mantra is an Australian accommodation provider listed on the Australian Securities Exchange. Mantra operates 127 properties across the Asia Pacific region and over 20,000 rooms in hotels, resorts and serviced apartments across Australia, New Zealand, Indonesia and Hawaii.

Mantra Charles Hotel, Launceston

Properties in Mantra’s portfolio range from luxury accommodation and coastal resorts to serviced apartments in city and key leisure destinations, under three key brands: Peppers (28 properties), Mantra (75 properties) and BreakFree (24 properties). Mantra also manages core accommodation services including guest relations and reception areas, restaurants and bars, conference and function centres, pool and entertainment facilities and offices.  Mantra has more than 5500 employees.

Written by Peter Needham

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