InterContinental Hotels a possible bidder for Mantra Group

[gibspmuh]

An interesting article at Suite talk is all positive - would certainly help arrest the current decline of properties for IHG in Australia and I'd imagine would lead to the introduction of the Candlewood and Staybridge brands into Australia as well. I guess we'll see soon enough whether or not they've been successful.

 

[docjames]

Oh please yes!

By October would be nice. Have booked Mantra as HI BNE is no longer with ICH group.

 

[oz_mark]

Suite talk is all positive

Could be intersting if ICH pick this up....

HOTEL operators are seeing a rise in demand for rooms thanks to an inflow of overseas tourists and the perennial low supply within the popular three- to four-star properties.


But investors continue to scour the market for good assets. The latest deal still being worked on is the sale of the Mantra Group, which was the former Stella business.


The data room for bids for Mantra has closed with offers said to have been received from hotelier InterContinental Hotels Group and private equity group Archer Capital

Suite talk is all positive

 

[JohnK]

Re: Suite talk is all positive

Yes it would be nice if there was more choice to earn/redeem Priority Club points.

 

[eric2011]

Would be good to see, with HI closing in Brisbane in the next week or so and with HI closing on the Gold Coast last year we only have CP left on the coast and this is a little bit out of the action. A IHG property where Circle on Cavil (mantra) is now would be great for my weekend on the coast every 2 weeks.

 

[markis10]

Taking a while to resolve, given bids closed a few months ago. One of the issues is the IHG bid would not be for the complete company ownership, leaving the current owners with some ownership. The result falling in favor of IHG would be a huge boost for the local footprint, interesting if it does fall what would happen to the peppers properties n terms of their branding.

 

[Ricardo]

I would say that IHG or any other suitor would run the Mantra group as a stand alone business, to my mind the Mantra properties in Australia are a different market/product to the IHG brand of hotels, and maybe some form of reatined ownership as markis points out.

 

[oz_mark]

I'd be inclined to think it would open the door to one of the brands not currently in Australia.

For what it is worth, rydges and starwood are also believed to have kicked the tyres.

Sent from my HTC Legend using AustFreqFly

 

[markis10]

I can see the Staybridge, Candlewood and Indigo brands suiting the Mantra properties nicely.

 

[whatmeworry]

Mantra Group Off The Market | Travel Trends

 

[MiLK_MaN]

Sigh, was hoping that IHG would acquire Mantra to facilitate a property in Brisbane!

 

[markis10]

Sigh, was hoping that IHG would acquire Mantra to facilitate a property in Brisbane!

Ditto, but I would be a happy to settle for an IC at Sanctuary Cove, not to far to drive for a free mini bar and a pretty cool pool for kids.