Mantra Group buys Art Series Hotel Group

George Sell By George Sell
07 August 2017 | Updated 07 August 2017

Australia: Mantra Group has entered into an agreement with the Deague Group to acquire the Art Series Hotel Group for around AUS$52.5 million.

The acquisition will see seven luxury hotels, with more than 1,000 guest rooms added to Mantra Group's portfolio of 128 properties across Australia, New Zealand, Indonesia and Hawaii.

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 2017)
• The Johnson, Spring Hill, Brisbane QLD
• The Watson, Walkerville, Adelaide SA

Each hotel is "inspired and dedicated to Australian contemporary artists, infusing the namesake artist's works and personality throughout the hotel to create unique art-inspired experiences".

Each business will continue to operate under the Art Series brand.

Mantra Group CEO Bob East said: "This acquisition enhances our existing portfolio and presents a unique opportunity for Mantra Group to increase its 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. 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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