French giant AccorHotels has completed its acquisition of Mantra Group, the largest hotel and resort operator in Australia, for £728m.
The Mantra Group has 127 properties and more than 20,000 rooms in hotels, resorts and serviced apartments across Australia, New Zealand, Indonesia and Hawaii, under three key brands: Peppers, Mantra and BreakFree.
It is now believed that once the acquisitive AccorHotels completes its acquisition of Mövenpick Hotels & Resorts for 560 million Swiss Francs (£412m) later this year, it will equal Marriott International's collection of 30 brands.
At the time that AccorHotels' announced its intention in October 2017 to buy Mantra Group, Sébastien Bazin, chairman and chief executive of AccorHotels said: "This operation will underpin our long-term growth in the Asia Pacific region. Mantra's portfolio would offer AccorHotels additional accommodation formats and a strong customer base to complement our successful hotel portfolio in Australia."
AccorHotels, which has 4,300 hotels worldwide, is now the sole shareholder of Mantra Group.