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Mantra rolls out red carpet for Accor's A$1.18b bid

Deal brings together Australia's top two hotel groups, but merger still needs to clear regulators' approval

Fri, Oct 13, 2017 - 5:50 AM

The deal would give the combined group about 50,000 rooms or about 11 per cent of Australia's hotel market. The number of visitors to the country rose in the past financial year to a record 7.9 million.

PHOTO:BLOOMBERG

Sydney

AUSTRALIA'S No 2 hotel company Mantra Group agreed on Thursday to a A$1.18 billion (S$1.24 billion) buyout from Accor, a deal which would join the country's top two hotel groups at a time when tourism is rising sharply.

The deal would give the combined group about 50,000...

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