Mantra Group Has Soul

Soul Surfers ParadiseMantra Group has won a bidding war to secure management letting rights for Soul Surfers Paradise. More than 20 parties expressed interest in the 77-level beachfront tower, which in the hands of receivers.

Resort Brokers Australia agent Glenn Millar said the sale “shows management rights, which have generally not been targeted, are now a strong asset class for hotel operators, and there is clearly unmet demand.”

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