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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