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Archer, CHAMP among bidders for CVC’s Mantra - report

  • Susannah Birkwood
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Archer Capital and CHAMP Private Equity are reportedly among the PE firms bidding for Australia’s Mantra Group, which CVC Asia Pacific put up for auction in March.

The accommodation provider is expected to sell for up to $520 million, according to The Australian, and bids closed on Thursday.

Other parties thought to be vying for the Gold Coast-based company - in which UBS also owns a substantial shareholding - include real estate fund manager Eureka, French hotel operator Accor, Amalgamated Holdings, owner of Rydges Hotels and Resorts, and InterContinental Hotels and Resorts.

UBS has been mandated to run the sales process for the business, which runs a network of more than 130 hotels, resorts and retreats under the Peppers, Mantra and BreakFree brands. The strongest performing hotels are based in Perth and Darwin, followed by Sydney, Melbourne and Canberra.

Mantra reportedly recorded a turnover of A$429 million (US$454.3 million) last year. The group employs 3,500 people and is led by chief executive Bob East.

Another CVC portfolio company, Nine Entertainment, is currently mulling offers for its ticketing arm Ticketek and Allphones Arena in an attempt to ease the strain of its A$2.7 billion debt pile due to be refinanced in February next year.

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