Revenue at the Mantra Group – one of Australia’s largest hoteliers and apartment managers – grew 21% in the six months to Dec 31, contributing to an increased net profit of $24.3m, up from $21.8m over the previous corresponding period.
“This result reflects the contribution of the nine new properties acquired during the period, improved occupancy levels and average room rates in most of the regions as well as a focus by Management on cost control and improved efficiencies in key areas of the business,” CEO Bob East said today.
“We are pleased by the performance of the properties we transitioned into the portfolio in the period and with the growth in underlying EBITDAI for the business excluding new properties which grew at 11.0% compared to the prior corresponding period.”
Mantra Group operates the Peppers, Mantra and BreakFree brands.
It has 126 properties and more than 14,800 rooms under management in Australia and Indonesia.