Latest Mantra Group News
Feb 1, 2019
The hotel opened its doors to guests in 2017. JLL's Hotels & Hospitality group vice president Andrew Langsford said HTI had indicated it wanted to sell the hotel site to "capitalise on the strong level of interest in the market". Mantra Group, a subsidiary of AccorHotels, has a 15-year lease to operate the hotel, which includes 176 rooms, a restaurant/bar, conference room and gym. Loading Mr Langsford said the hotel could potentially be expanded or the site redeveloped, with new height limits for the block set to be introduced later this year. Mr Langsford would not speculate on a potential sale price, but said the prospect of increased building heights and Canberra's growing visitor economy would be attractive to potential buyers. Canberra welcomed almost 5 million visitors in the 12 months to June last year, up 12 per cent on the previous year, according to the latest Visit Canberra statistics. A number of new hotels are due to open in Canberra's inner city in the coming years, including a five-star hotel at Geocon's Midnight complex. The 153-room Eclipse House on London Circuit and the five-star Adina Apartment Hotel Grand on Constitution Avenue are scheduled to open in 2020.