The Blue Swan Daily brings you a wrap up of the months key hotel news, including:
- Mantra Group announces results for the year ended 30-Jun-2017
- AccorHotels expands luxury and upscale portfolio in Asia Pacific with six new hotels in three months
- Velocity Frequent Flyer ends relationship with three hotel and resort partners
- Sydney Airport acquires 100% equity in SAF1, owner of Ibis airport hotel
- Waldorf Astoria Chengdu opens as Hilton’s 200th hotel in Asia Pacific
Mantra Group announces results for the year ended 30-Jun-2017
Mantra Group Limited (Mantra Group) announced (29-Aug-2017) FY2017 results for the period ended 30 Jun-2017: Key highlights include:
- Statutory total revenue of AUD689m, up 13.7% on FY2016
- Statutory NPAT was AUD45.6m, 22.7% higher than statutory NPAT of AUD37.1m for FY2016
- Underlying EBITDAI of AUD101.2m was up 12.7% on the same period last year
- Revenue growth, excluding new properties, of AUD23.4m
- Underlying NPAT was up AUD5.9m to $47.2m in FY2017, an increase of 14.2%
- Underlying NPATA of AUD49.9m was 13.3% up on FY2016
- Six properties were added to the network during the year and Mantra Hotel at Sydney Airport opened in July 2017.
Mantra Group CEO Bob East said the Group performed strongly in FY2017 and delivered continued growth in revenue and profitability.
“During FY2017, the Group performed ahead of the previous corresponding period in revenue, and underlying EBITDA, NPAT and NPATA. The Group’s revenue increased by AUD82.9 million, or 13.7%, to AUD689 million during the year. The majority of this improvement was driven by six new property acquisitions during the year and was supported by strong revenue growth from the key markets of Sydney, Melbourne, ACT, and Sunshine Coast. The Group is in a strong financial position with total assets of AUD806.3 million, an increase of AUD37.2 million, and a strong operating cash flow.”
AccorHotels expands luxury and upscale portfolio in Asia Pacific with six new hotels in three months
AccorHotels announced (28-Aug-2017) it is strengthening its Asia Pacific presence in the luxury hotel space with six confirmed luxury and upscale openings in the next three months. The upcoming openings will see the expansion of the Sofitel and Pullman brands, which fall under AccorHotels’ luxury and upscale collection. Raffles Hotel, Fairmont, MGallery by Sofitel, Swissôtel and Grand Mercure brands complete the group’s high-end offerings. The upcoming openings include: Sofitel Kuala Lumpur Damansara (opening: Aug-2017); Sofitel Singapore City Centre (opening: Sep-2017); Sofitel Sydney Darling Harbour, Australia (opening: Oct-2017); Pullman Brisbane Airport, Australia (opening: Oct-2017); Sofitel Wellington, New Zealand (opening: Oct-2017); and Pullman Shenyang, China (opening: Oct-2017).
Velocity Frequent Flyer ends relationship with three hotel and resort partners
Velocity Frequent Flyer, the loyalty programme of Virgin Australia, announced (21-Aug-2017) it will no longer partner with the following hotel and resort groups, effective 15-Sep-2017:
- Hotel Urban Group: Velocity Frequent Flyer will no longer partner Work Exchange Bureau. Claims for Retrospective Points for will be accepted until 01-Dec-2017;
- Taj Hotels Resorts and Palaces: Velocity Frequent Flyer will no longer partner with The Indian Hotels Company Limited. Claims for Retrospective Points for will be accepted until 01-Dec-2017;
- Meritus Hotels & Resorts: Velocity Frequent Flyer will no longer partner with Meritus Hotels & Resorts. Claims for Retrospective Points for will be accepted until 01-Dec-2017.
Sydney Airport acquires 100% equity in SAF1, owner of Ibis airport hotel
Sydney Airport confirmed (22-Aug-2017) the acquisition of 100% equity in SA (F1) Pty Limited (SAF1) for AUD34.5 million (USD27.3 million) on 10-Jul-2017. SAF1 owns Ibis Budget Hotel on Ross Smith Avenue at the airport’s T2/T3 Domestic precinct. The company retained a management agreement with Accor for the operation of the hotel.
Waldorf Astoria Chengdu Opens as Hilton’s 200th hotel in Asia Pacific
Hilton and Waldorf Astoria Hotels & Resorts, today announced (01-Aug-2017) the opening of Waldorf Astoria Chengdu, the company’s 200th hotel in Asia Pacific. Located in Western China’s gateway city of Chengdu, the 289-room Waldorf Astoria Chengdu is a 190,000 square meter mixed-use development comprising of a retail mall, office towers, and apartment towers. Hilton president, Asia Pacific Martin Rinck stated: “As Hilton’s 200th hotel in Asia Pacific, Waldorf Astoria Chengdu marks a key milestone in our company’s growth in this region in spectacular style. Our ambition is to be everywhere our customers want to be, as the most hospitable company in the world. With more destinations than ever before in Asia Pacific, including nearly 400 hotels in the pipeline, we’re on our way to achieving that.”