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Mantra acquires Art Series Hotel Group

By   /  August 7, 2017  /  Comments Off on Mantra acquires Art Series Hotel Group

Mantra Group has entered into an agreement with the Deague Group to acquire the Australian-owned Art Series Hotel Group for approximately $52.5 million.

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Mantra Group acquires Art Series Hotel Group’s seven luxury properties

Subject to customary completion conditions, the acquisition will see seven luxury hotels added to Mantra Group’s portfolio of 128 properties across Australia, New Zealand, Indonesia and Hawaii.

The Blackman, Melbourne

The seven hotels are: The Cullen, Prahran, Melbourne VIC; The Larwill Studio, North Melbourne VIC; The Olsen, South Yarra, Melbourne VIC; The Blackman, St Kilda Road, Melbourne VIC; The Chen, Box Hill, Melbourne VIC (set to open in November); The Johnson, Spring Hill, Brisbane QLD; and The Watson, Walkerville, Adelaide SA.

Each hotel is inspired and dedicated to Australian contemporary artists, incorporating the namesake artist’s works and personality throughout the hotel. Following the transaction, each business will continue to operate under the Art Series brand.

The Larwill, North Melbourne

Mantra Group CEO Bob East said the deal will increase the group’s footprint across three key locations (Melbourne, Brisbane and Adelaide) in a single transaction.

“This is a rare opportunity to acquire a collection of exceptional hotels and one which is expected to make a significant contribution to Mantra Group’s business,” he said.

The Johnson, Brisbane

“These hotels have been operated to the highest standards by a passionate and dedicated team, and we are delighted to welcome such iconic and favoured properties to our growing network of hotels and resorts. We look forward to working with the owners, team members and guests to ensure a smooth transition.”

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