East: hope for leisure market

East: hope for leisure market
By admin

Mantra chief executive Bob East has argued there is still potential in domestic leisure travel despite its overall flat performance.

While admitting 70% of the group’s revenue was now through CBD properties as it “transitioned out” some resort product, he insisted Mantra was seeing growth in the leisure market.
“It is flat, but we’ve been able to eke out profit growth in the leisure market because it’s not just about domestic travel or international travel – it’s the market segmentation below that,” he said.
He explained that family travel was performing well and highlighted growing demand for premium travel which has led to Mantra expanding upmarket Peppers brand.
“We’re chasing the market segments that are still moving,” he said. “When you look at the broad numbers, they’re disguising what is happening beneath.”
The group has recorded 10% growth year on year with a bottom line north of $60 million, according to East.

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