MANTRA ADDS TO ITS BRISBANE NETWORK

Written on the 30 September 2014

MANTRA ADDS TO ITS BRISBANE NETWORK

GOLD COAST based Mantra Group (ASX:MTR) is set to expand its Brisbane network, when the redeveloped Observatory Tower opens as Mantra on Edward next week.

The accommodation provider has a renewed focus on the river city, growing from two hotels to six in the last 12 months.

The former residential block has been converted into a fully-serviced apartment hotel, targeted at both leisure travellers and corporate guests.

Situated on the corner of Wickham Terrace and Edward Street, 50 apartments will be offered initially with the remaining 114 apartments to be completed in March 2015.

Mantra Group CEO Bob East says Mantra on Edward will round out the company’s portfolio.

“We needed more product in the Brisbane CBD to complement our hotel at South Bank and with the four acquisitions we’ve made over the last six months Mantra now holds a very strong position as the 4-star favourite in the market,” East says.

MTR has two more developments in the pipeline, including the acquisition of Midtown Apartments next month and a new project in Fortitude Valley to open in 2016.

“We have just signed an agreement to manage another property from October and a new build property to open in 2016 will break ground later this year, and we are confident the G20 will provide a positive impact for Brisbane’s profile,” East says.

The property boasts larger than average hotel rooms, with two and three bedroom apartments up to 165sqm.

Mantra on Edward will open its doors on October 6.


Latest News

JENNIFER WESTACOTT ON BANK TAX: IT EXPOSES GOVERNMENT 'DESPERATION'

BUSINESS COUNCIL CHIEF EXECUTIVE JENNIFER WESTACOTT

South Australia's new bank levy exposes the desperation of...

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

ADELAIDE APARTMENT BREAKS OFF-THE-PLAN RECORD WITH $3M SALE

AN apartment in 'The Adelaidean' residential development in Adelaide has sold for more than $3 million, which...

CABCHARGE GIVEN GREEN LIGHT TO BUY YELLOW CABS IN QUEENSLAND FOR $20M

THE consumer watchdog will not oppose the proposed acquisition of Yellow Cabs in Queensland by taxi payment service C...

Related News

BASKETBALL'S COMEBACK CONTINUES WITH NBL CLUBS TO FACE OFF AGAINST CHINA'S NATIONAL TEAM

THE RESURGENCE of Australia's National Basketball League (NBL) continues with China's national team to play t...

DOMESTIC TOURISM IN AUSTRALIA BREAKS RECORDS, INJECTS $61.7 BILLION INTO NATIONAL ECONOMY

DOMESTIC Australian tourists have spent a record breaking $61.7 billion on intra and interstate travel this year, acc...

THE DOCTORS WHO PLUNGED INTO THE SHARK TANK AND SURVIVED WITH A $500,000 INVESTMENT

THEIR mission is to change the face of cancer care with an app that empowers and connects patients and care givers...

IMF BRACES FOR BIG LOSS FOLLOWING WITHDRAWAL FROM SPOTLESS CLASS ACTION

LITIGATION fund IMF Bentham (ASX: IMF) is set to lose as much as half a million dollars after it ceases funding one o...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter