Mantra Group to Acquire Australia’s Art Series Hotel Group from Deague Group for $52.5 Million

Arts Series Hotel Group | August 8, 2017

Mantra Group today announced it has entered into an agreement with the Deague Group to acquire the Australian-owned Art Series Hotel Group for approximately $52.5 million (excluding transaction costs), subject to customary completion conditions. The acquisition will see seven luxury hotels (representing more than 1,000 guest rooms and including a number of conference and event facilities, restaurants and luxury hotel-style amenities) added to Mantra Group's ever-expanding portfolio of 128 properties and more than 21,500 rooms in properties under management across Australia, New Zealand, Indonesia and Hawaii. The seven hotels are: ...