Mantra Group has acquired the management and letting rights for the M on Mary apartment hotel.
The property will rebrand as Mantra on Mary on 1 November 2015 and become Mantra Group’s eighth property in Brisbane and its largest with 367 one and three bedroom apartments.
“This opportunity allowed us to substantially increase our room numbers in Brisbane and complement our existing network,” said Michael Moret-Lalli, Mantra Group director of acquisitions.
“Underpinned by a buoyant construction industry and approved key infrastructure projects, Brisbane is in a strong position for future growth. This acquisition speaks to our confidence in the city’s future and the importance of securing well positioned product in market,” he said.
Located on Mary Street in central Brisbane, the 43-storey property was constructed in 2007 and offers well-appointed, four star apartments offer river or city views with most apartments refurbished in the past 12 months.
Facilities include outdoor pool, BBQ, gym, sauna, on-site parking, health spa and free WiFi in lobby.
Appealing to leisure and business markets, Mantra on Mary is conveniently located within walking distance of Queen St Mall, Botanic Gardens, Brisbane Convention and Exhibition Centre, Treasury Casino, and QPAC.
With the addition of Mantra on Mary, Mantra Group will have a total of 1261 rooms available in Brisbane with hotels located in South Bank, Fortitude Valley and Brisbane CBD. A brand new build hotel – Richmont by Mantra – will open in 2016 adding a further 110 rooms.