MANTRA SEASONS CANBERRA WITH PEPPERS

Written on the 24 July 2014 by Nick Nichols

MANTRA SEASONS CANBERRA WITH PEPPERS

PEPPERS has officially pushed into its first CBD market, prompting Mantra Group (ASX: MTR) to explore further opportunities to expand the hotel brand which, until now, has traditionally been linked to resort properties.


“It has always been our objective to take the Peppers brand to CBD locations and it is great to see Peppers in the national capital,” says Mantra Group CEO Bob East.


“We have a brand new Peppers development set to open in Melbourne’s Docklands precinct in 2016 and will continue to seek out further CBD opportunities in the meantime.”


Peppers Gallery Hotel Canberra, formerly known as the Diamant Hotel, is a boutique 80-room property located in the city’s vibrant New Acton precinct.


The property has been a part of the Canberra landscape for almost 90 years, opening its doors in 1927 as the Acton Hotel and hosted VIP guests arriving in Canberra for the grand opening of Parliament House in May that year.


The Surfers Paradise-based Mantra Group has the capacity to accelerate expansion of its hotels business following a share float in June that raised $239 million for its private equity vendors, CVC Asia Pacific and UBS.


The company operates three hotel brands, including Mantra and BreakFree, across 113 properties in Australia, New Zealand and Indonesia, with Mantra traditionally positioned as its CBD brand.


Mantra shares have continued to rise above their $1.80 issue price after a modest debut on June 20, last trading at $1.95.


Author: Nick Nichols

Latest News

APOLLO REVS UP ITS RESULTS

APOLLO Tourism & Leisure (ASX: ATL) has hit its profit forecast in its maiden result as a publicly traded company...

JASMINE YARBROUGH AND TAMIE INGHAM TAKE MARA & MINE TO HOLLYWOOD

MARA & MINE entrepreneurs Jasmine Yarbrough and Tamie Ingham (pictured left and right respectively) slipped in...

HUGE PROFIT SPIKE FOR HELLOWORLD HEALS MERGER WOUNDS

HELLOWORLD (ASX: HLO) gripped the share market this morning after its announcement of a whopping 880 per cent increas...

PROFIT DROP AT SERVCORP

SERVICED office company Servcorp has seen its profit fall, citing New York City, Singapore and Saudi Arabia as the pr...

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