Mantra Group is gearing up to build a new hotel in Canberra. The new hotel will reportedly be located in Canberra's inner city suburbs and will be opened in late 2016.
According to The Canberra Times, the new hotel will be a redevelopment of a Turner office tower. The new hotel will feature 176 rooms, 40 of which will be suites. The new Mantra hotel will also include various facilities such as a restaurant and bar, conference rooms, gym and parking.
Michael Moret-Lalli, Mantra's director of acquisitions, said the project proposed a vital opportunity for the hotel group.
"The key appeal of this opportunity was a gain in new foothold in Canberra where we currently only operate 300 rooms across three hotels. The capital benefits from a growing annual events calendar and continues to show improved performance across both the leisure and corporate travel market with room for a quality, well located hotel such as Mantra Canberra," Moret-Lalli said, as quoted by Travel Daily Asia.
The Mantra Group has various hotel offerings that range from economy to mid-range and luxury properties. Moret-Lalli pointed out the new hotel's proximity to central business district and future light rail transportation infrastructure as one of the "attractive" factors about the planned Mantra Group property.
"As the nation's capital, Canberra is a key CBD location and therefore fits perfectly with our stated strategic growth mandate of building scale within a market," Moret-Lalli said.
"The opportunity to add an additional 176 rooms to our existing room base in the city represents an increase of nearly 60 per cent and increases our ability to leverage improving market fundamentals."
Canberra developer HTI Group will be in charge of the hotel construction. The project is set to begin later this year.
