Accor takeover of Mantra Group clears hurdle

Accor takeover of Mantra Group clears hurdle

The Australian Competition and Consumer Commission has cleared AccorHotels take over of Mantra Group.

Mantra is one of Australia’s largest hotel and resort marketers and operators.

The company as with 127 properties and more than 20,000 rooms in hotels, resorts and serviced apartments across Australia, New Zealand, Indonesia and Hawaii.

It operates under three key brands – Peppers (28 properties), Mantra (75 properties) and BreakFree (24 properties).

Mantra has more than 5,500 employees.

The acquisition is likely to be completed in the second quarter of 2018 subject to approval by Mantra shareholders as well as from Australia’s Federal Court and Foreign Investment Review Board.

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