The Australian-owned hospitality brand with an artistic edge has found a comfortable new home within the shining and prosperous walls of the Mantra Group.
Announced this morning, the Art Series Hotel Group, its seven luxury hotels (including Melbourne’s ‘The Chen’, opening in November this year) and its 1,000 guest rooms will join BreakFree and Peppers under the Mantra umbrella later this year.
For Mantra, the $52.5 million acquisition means gaining a collection of “exceptional hotels” around Australia, such as The Johnson in Brisbane featuring work from master colourist, Michael Johnson; and The Olsen in Melbourne, which is infused with work from landscape artist Dr John Olsen.
Mantra Group’s Chief Executive, Bob East, said the Art Series Group will enhance the company’s existing portfolio of some 128 properties.
“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.”
Bob East, Mantra Group Chief Executive
“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.”
It’s great news for Mantra, but what does this mean for the unique Art Series Hotel Group?
East said Mantra recognises the strength of the business in the market, so hotels will continue to operate under the brand.
“We look forward to working with the owners, team members and guests to ensure a smooth transition,” he added.
Settlement of the ‘Art Series Acquisition’ is expected to be completed in late 2017, subject to closing conditions customary for an acquisition of this nature.