Mantra Group surfs the mining boom
The Mantra accommodation group has reported a strong 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 (ADR) grew by 1.7%.
There was a 9% growth in EBITDA, year-on-year, to reach AUD60.6 million.
"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," said CEO, Bob East.
The impact of the continuing growth of the mining and resources sector was most prevalent in Perth which saw 32% room revenue growth from 13% occupancy and 12% rate increase.
A similar impact was felt in Brisbane – combined with a strengthening conferencing market – with 11% room revenue growth, 13% in occupancy and 3.5% rate increase; and in NT where 3.7% room revenue growth was driven by increased occupancy.
ADR growth driven by Government and corporate sector activity saw a room revenue increase of 6% in Canberra and 2% in Sydney, with Melbourne and Adelaide remaining largely static.
Mantra Group’s resort properties in Tropical North Queensland felt the positive impact of the Chinese and Asian inbound tourism reporting a 7% increase in revenue.
Peppers and Mantra properties in Cairns and Palm Cove achieved record numbers for Chinese New Year celebrations this year.
Despite often difficult trading conditions on the Gold Coast, 2% room revenue growth resulted from increased domestic leisure room nights and conference related demand in the Broadbeach precinct.
In New Zealand a 20% room revenue growth was achieved from increased occupancy and growth in rooms under management.
Ian Jarrett
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