Mantra Group checks-in with strong results
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Leading Australian corporate and leisure accommodation provider Mantra Group announced today it was on track for one of its strongest years to date following a major corporate restructure and recapitalisation in July.
Now operating completely independently from Global Voyager Holdings, Mantra Group enters 2010 with a clear mandate for growth focusing on the strengths of its three key brands Mantra, Peppers and BreakFree.
Chief Executive Officer for Mantra Group, Bob East, said the group was tracking well ahead of budget since the July 31 restructure where Stella Travel Services and Stella Hospitality Group were separated into two independently operating businesses, with the latter changing its name to Mantra Group shortly after.
“The separation of the two businesses has meant that each can operate independently and focus on being the best in their respective fields,” he said.
“The recapitalisation gave us a strong balance sheet and an injection of funds which allows us to forge ahead with our plans to expand our three consumer brands with confidence.”
“We are travelling ahead of budget and our future projections are encouraging,” Mr East said.
The holiday provider is on target for one of its strongest summers on record with Christmas bookings already well ahead of the corresponding period last year.
In November, Mantra Group booked 40,000 rooms through its central reservations department across its Peppers, Mantra and BreakFree brands.
Continuing the strong growth of retreats, resorts and hotels in key corporate and leisure destinations across Australia and New Zealand has been another major focus with the group recently launching Peppers Coral Coast resort in Airlie Beach and about to venture into Queenstown with new Mantra property.
About Mantra Group: The Mantra Group is one of Australia and New Zealand’s largest leisure and corporate accommodation providers. The group operates a portfolio of more than 140 properties under the brands of Peppers, Mantra and BreakFree.
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