Posted 7/17/2012 - 11:07:32 AM
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NEW YORK—Australian lodging provider, Mantra Group, reported strong end of financial year results with a 9% growth in EBITDA (YOY) to reach $60.6 million, reflecting a positive 2011/2012 financial year across both CBD and resort markets.
Overall room revenue across the Group’s Australia and New Zealand network of Peppers, Mantra and BreakFree hotels increased by 6.2% on 2011 reflecting a growth in RevPAR of 5.8% across the Group’s 22 CBD properties and 5.2% across over 85 resort properties while average daily rate grew by 1.7%.
CEO Bob East said, “We reached beyond our targeted EBITDA; added four new properties to our Peppers brand; and increased revenue despite reducing our room stock following strategic divestments to strengthen brand equity. Solid growth in ADR and occupancy was also achieved across the network and we were able to grow our domestic leisure business through dynamic marketing campaigns, despite challenges experienced across the industry in the face of a strong Australian dollar.”
In New Zealand, a 20% room revenue growth was achieved from increased occupancy and growth in rooms under management, according to the company. Mantra Group in New Zealand this year added two new hotels with further expansion planned.
Mantra Group is a manager and marketer of hotels and resorts in Australia and New Zealand, with more than 110 properties and 15,000 rooms under management.
