Hotels

Mantra Group ups revenue by $10.1m

Daisy Doctor

Mantra Group has unveiled its half-year results, and boy is they in for a good 2018.

The Group saw record revenue and massive increases in room bookings, with an increase in revenue of $10.1m and 1.97m rooms sold.

Revenue grew to $366.2m, an increase of 2.8 per cent, mainly due to growth in domestic and international travel, as well as record RevPAR (Revenue Per Available Room) of $145.07.

The number of rooms sold in the first half of the financial year was the highest ever for the period, and the Group increased avaialable rooms by 2.6 per cent.

As well as this, the Group acquired 10 new properites in the period, which included:

  • Matra Sydney Airport Hotel
  • Mantra Macarthur
  • FV by Peppers
  • Seven Art Series Hotel Group properties.

Mantra Group Cheif Executive Officer Bob East said H1FY2018 delivered record results in revenue, rooms sold and the landmark acquisition of the Art Series Hotel Group.

“During H1FY2018, the Group delivered total revenue of $366.2m.”

“This result was driven by a number of factor including the acquisition of ten new properties, continued growth in domestic and international travel, increased business travel to some CBD locations, an increase in the total number of rooms available across the Group’s Resorts and CBD operating segments.

See also: Mantra Group launches brand new identity  

“We are pleased with the performance of the properties that we transitioned into the portfolio; in particular the seven Art Series Hotels have transitioned smoothly and performed ahead of expectation int he short period they have been with the Group.

“Mantra Group is in a good financial position with total assets of $905m, net assets of $485m and a strong cash flow,” East said.

However, transaction costs associated with a business combination of $0.7m were incurred during the period in respect of the Art Series acquisition.

See also: Midweek Interview: Matt Granfield, Executive Director Marketing and Digital, Mantra Group

As well as this, the Group also incurred costs of $2.0m due to the proposed acquisition by AccorHotels.

According to a press statement released on the ASX, while the development team continue to seek out new opportunities, the Group’s growth aspirations have been “tempered somewhat in light of the proposed AccorHotels transaction”.

“The second half of the financial year is off to a solid start; the Gold Coast Commonwealth Games will be the biggest even to happen in Australia this decade and the fact that 23 of Matra Grou’s 136 hotels are located on the Coast means the Group is well placed to drive results in H2FY2018,” East added.

Check out the full breakdown of the results here.


Do you have something to say on this? Get in touch with Travel Weekly Editor Daisy Doctor here to share your thoughts. 

SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Cruise

Silversea unveils a whopping 86 new itineraries

Got a client who’s keen to get back on the seven seas? Get their attention with this new offering from Silversea.

Share

CommentComments

Events

Luxperience goes virtual for 2020

Had you lost all hope that the premier luxury travel event was still going ahead this year? Restore it here with this.

Share

CommentComments

Road & Rail

Road & Rail Wrap: Avis launches subscription service, Rail Europe’s new site and app coming soon + MORE

After stopping off the side of the highway for a quick kip, Travel Weekly’s Road & Rail Wrap is back, all nice and refreshed.

Share

CommentComments

Destinations

Cyprus offers to pay travellers COVID-19 bills

Cyprus has gone to new lengths to lure travellers back to the Mediterranean by offering to pay costs for anyone whose trip is ruined by COVID-19.

Share

CommentComments

Destinations

Major Japanese theme parks ask guest not to scream on rollercoasters

As the world begins to reopen, tourism operators have begun rolling out new and creative ways to prevent the spread of COVID-19. This one is particularly unusual.

Share

CommentComments

Tourism

Cover-More CEO exits

The global travel insurance provider has waved goodbye to its chief, but not before signing him up to a premium policy.

Share

CommentComments

Technology

Afterpay makes online travel play

If COVID-19 wasn’t already enough of a challenge for travel agents, a new OTA has entered the ring.

Share

CommentComments

Destinations

Tourism Malaysia’s new Aussie director on the destination’s big marketing shift

by Huntley Mitchell

The destination is placing much more of a focus on its digital presence and “smart partnerships”, as it looks to recover from the impacts of COVID-19.

Share

CommentComments

Aviation

How are high flyers dealing with coronavirus? A new jet-to-yacht service seems to be the answer

Are you or your clients keen to avoid cattle class (or any class for that matter) on your first post-coronavirus flight? Start saving your pennies for this new service.

Share

CommentComments

Tourism

STUDY: More than half of Aussies are keen to get travelling in the next six months

Find out where, when and how Aussies will hit the road once restrictions are lifted with this handy set of survey results.

Share

CommentComments

Travel Agents

Pandemic could push consumers to use agents over OTAs, says Barry Mayo

by Ali Coulton

The TravelManagers chairman has also predicted more bricks-and-mortar agents will make the switch to a home-based model, given the risk of further lockdowns.

Share

CommentComments

Destinations

Team behind Addicted to Maldives launches domestic-focused DMC

The new offering aims to help curate your clients’ domestic escapades so that you can give them their perfect post-lockdown getaway.

Share

CommentComments