MANTRA EXPANDS ITS BRISBANE NETWORK

Written on the 30 September 2014

MANTRA EXPANDS ITS BRISBANE NETWORK

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

AUSTRALIA READY TO DISRUPT GLOBAL CARBON FIBRE MANUFACTURING

AUSTRALIA for the first time has the capacity to produce carbon fibre from scratch and at scale, following the launch...

HONG KONG FUND INVESTS $212.8 MILLION IN G8 EDUCATION

G8 EDUCATION (ASX: GEM) has secured $212.8 million from Hong Kong-based CFCG Investment Partners to pay down debt and...

MERGER DELIVERS THE FINANCIAL GOODS FOR TERRY WHITE

TERRY White Group has posted a solid half-year net profit of $1.3 million amid a period of major transformation fo...

BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS

BLUE Sky Alternative Investments (ASX: BLA) has appointed two new independent, non-executive directors to its board: ...

Related News

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter