Buyers line up for Mantra

Buyers line up for Mantra
By admin

Accor and US private equity group Starwood Capital have emerged as prospective buyers for Mantra Group, which was put up for sale in March (Travel Today, March 8).

Media reports today suggested Intercontinental Hotels and Resorts and Amalgamated Holdings, owner of Rydges, were also in the running along with private equity firms Archer Capital, CHAMP and fund manager Eureka. Mantra is expected to sell for around $400 million rather than the $520 million previously outlined.

Accor admitted to Travel Today it was looking at the opportunity, but denied it was a frontrunner having only just completed its acquisition of Mirvac.

Mantra chief executive Bob East could not be reached at time of going to press.

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