Mantra Group IPO to fuel growth plans

Mantra Group IPO to fuel growth plans
By admin


Mantra Group’s quest to further grow its network of hotels has seen it announce an initial public offering of approximately 53% of shares on issue at a price of $1.80 per share.

The share market capitalisation of $449 million has an enterprise value of $538 million, the hotel group confirmed.

“We have worked hard to strengthen our portfolio, invest in market-leading systems, and develop a significant pipeline of growth opportunities in Australia, New Zealand and Indonesia,” chief executive Bob East said.

“The listing of Mantra Group will allow us greater flexibility in delivering on that growth pipeline and I look forward to welcoming fellow investors as part of this process.”

He identified its mix of operating structures as its “competitive edge” – a view echoed by chairman Peter Bush as he highlighted average growth of 6% per annum since 2004 of the segments of  the Australian accommodation market in which Mantra operates through its Peppers, Mantra and BreakFree brands.

“We believe that Mantra Group is well-positioned to benefit from anticipated future growth because of its increasing brand awareness, range of flexible operating structures and scalable operations,” Bush said.

“We are confident this will provide investors with a stable, resilient investment with opportunities for further growth.”

Current shareholders EV Hospitality and UBSAHPL will retain their current respective investments in the hotel firm, entering into voluntary escrow agreements as set out in the prospectus.  Certain members of Mantra management will convert a majority portion of their existing share options into Mantra shares upon listing and will also enter into voluntary escrow agreements.

The group currently comprises 113 properties and over 11,600 rooms in hotels, resorts and serviced apartments across Australasia and Indonesia.

Latest News

  • Destinations
  • Tour Operators

Bunnik Tours unveils latest expansion to Iceland

Bunnik Tours has announced its latest exciting expansion with the small tour specialist’s new Discover Iceland tour. Taking travellers to a bucket list icon, the tour explores the rugged landscapes and stunning glaciers that make Iceland such a hotspot. Kicking off in the capital, Reykjavik the tour then heads along the famous Ring Road to […]

  • Products

Embrace the journey: Traversing the world with the Shokz OpenRun

If you’ve been on the wrong side of a final call in the airport, or missed the stop on rail journey, it might be time to invest in a pair of Shokz OpenRun headphones. Originally marketed as headphones for fitness fanatics, runners or cyclists with a keen to steer clear of a prang with a car, […]

  • Travel Agents

DriveAway launches Brit-Euro Blitz campaign

DriveAway has launched its Brit-Euro Blitz: Explore the UK, Europe & Ireland campaign, designed to inspire travellers to uncover the beauty and diversity of those destinations during May and June. The campaign arrives amidst a surge in popularity for destinations across the UK, Europe and Ireland, with year-to-date increases averaging around 30%. Notably, cities such […]

  • Tour Operators
  • Tourism

TTC: Deals are driving up demand for September trips

The latest market research from TTC Tour Brands shows interest in international leisure travel remains high for 2024, with 77 per cent of Australians over 18 still planning trips this year. Notably, 28 per cent of those travellers are eyeing September for their journeys. Europe continues to be the most popular destination, with 68 per […]

  • Aviation

Qantas ‘working urgently’ to fix app data leak

Qantas is looking into customer reports that passengers have this morning been able to access other passengers’ personal information on the airlines app. X user Lachlan posted that he was able log into different accounts every time he opened the app. My @Qantas app logs me in to a different person each time I open […]

  • Hotels

Revamped Wailoaloa Beach hotel opens as Crowne Plaza Fiji Nadi Bay Resort & Spa

Crowne Plaza Fiji Nadi Bay Resort & Spa is open and ready for bookings after the first phase of a multi-million-dollar transformation. Part of IHG Hotels & Resorts’ premium collection, the transformation has seen the completion of 106 guestrooms showcasing contemporary interiors reflective of the premium Crowne Plaza brand and is a first for the […]

  • Luxury
  • News

Kamalaya Koh Samui clinches clutch of wellness awards

Kamalaya Wellness Sanctuary & Holistic Spa has so far clinched five prestigious awards in 2024, including being inducted into the ‘Hall of Fame’ at the World Spa & Wellness Awards in London. Founders of the Koh Samui sanctuary and spa John and Karina Stewart expressed their heartfelt gratitude for the awards. “We are profoundly honoured […]