Corporate action in accommodation

The ASX listed Mantra Group (MTR) has announced an “indicative and non-binding” proposal from French global giant Accor. A combined group would be dominant in FNQ with both groups having a significant presence in Port Douglas, Palm Cove and Cairns.

Mantra branded accommodation properties:

  • Mantra Esplanade (Cairns)
  • Mantra Trilogy (Cairns)
  • Breakfree Royal Harbour (Cairns)
  • Mantra Amphora (Palm Cove)
  • Peppers Beach Club (Palm Cove)
  • Peppers Beach Club (Port Douglas)
  • Mantras Aqueous, Heritage, Village, Inlet and Portsea (Port Douglas)

 

Accor branded accommodation properties:

  • Pullman International (Cairns)
  • Pullman Reef Casino (Cairns)
  • Harbour Lights (Cairns)
  • Novotel Oasis (Cairns)
  • Ibis Styles (Cairns)
  • Reef House Sofitel (Palm Cove)
  • Pullman Sea Temple (Palm Cove)
  • Sebel Coral Coast (Palm Cove)
  • Pullman Sea Temple (Port Douglas)

 

I may have missed some. Accor brands also include Mercure but don’t think there is any longer a presence in Cairns. Accor also has a controlling interest in Reef Casino Trust (RCT) via a joint holding with Casinos Austria. This holding is under review by Casinos Austria.

The non-binding indicative proposal is also subject to the usual conditions and regulatory approvals.

 

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