Leading Australian-based hotel and resort operator Mantra Group's expansion into new international markets is yielding strong results.
Their latest acquisition, the 1,100 room Mantra-branded Ala Moana Hotel in Honolulu Hawaii, has recorded a solid opening performance to perform above the industry-average in the South Pacific hotel market.
Mantra Group Chief Executive Officer Bob East said the acquisition transitioned smoothly at the end of July and is now the largest property in the Mantra Group portfolio.
“Records in both occupancy and average-daily-rate have been achieved in August and September,” said Mr East.
He said Ala Moana Hotel has also realised double-digit revenue per available room (REVPAR) growth, which is more than double the market growth being experienced at other properties on Oahu.
“We could not be more pleased with the Ala Moana Hotel team and how they have adapted to Mantra Group's processes and procedures to effectively capitalise with immediate REVPAR growth in a strong market.”
Mr East said the iconic Ala Moana Hotel has consistently been a strong performer under the management of ALM Management Services LLC (ALMMS), an affiliation of Hawaiian-based hotel company Outrigger Enterprises Group.
Mantra Group acquired the hotel at the end of July 2016. All previous hotel staff and management were retained as part of the transition.
“Mantra Group's foray into the South Pacific market has been encouraging and is consistent with our strategy to expand our presence in key offshore regions, with a focus on destinations favoured by Australian travellers and other key international markets,” said Mr East.
Ala Moana Hotel is conveniently located beside the world's largest open-air shopping mall, Ala Moana Shopping Centre, and features 1,100 rooms, which the majority have ocean views. It is also home to dining outlets, including an onsite Starbucks and nightclub as well as nine-dedicated spaces for meetings and events.
About Mantra Group
Mantra Group is the leading Australian-based hotel and resort operator. Mantra Group's portfolio consists of 126 properties with more than 21,000 rooms in properties under management, across Australia, New Zealand, Indonesia and Hawaii. Operating three well-known and trusted brands – Peppers, Mantra and BreakFree - Mantra Group operates the second largest network of accommodation properties in Australia (by room number). The Group is positioned to offer both leisure and business style accommodation ranging from full service city hotels and self-contained apartments to luxury resorts and retreats. The Group successfully listed on the ASX in June 2014 and in its first year as a public company was elevated to the ASX 200: www.mantragroup.com.au; www.peppers.com.au; www.mantra.com.au ; www.breakfree.com.au
