ACCC announces it will not oppose Accor's acquisition of Mantra

Australian Competition and Consumer Commission (ACCC) announced (08-Mar-2018) it will not oppose the proposed acquisition of Mantra Group by AAPC Limited (Accor). The ACCC stated the the combined business will "still compete with other international and national hotel chains, as well as many independent hotels and accommodation providers". Accor's business is mainly focused on hotel style accommodation and its brands include Sofitel, Novotel, Mercure and ibis. Mantra's focus is on serviced apartments, which it offers through its Peppers, Art Series, Mantra and Breakfree brands. ACCC chairman Rod Sims noted the combined Accor-Mantra "will have a large number of properties in some areas, particularly in certain holiday destinations in Queensland. However, in each case and after a detailed review the ACCC has found that there are also sufficient other options nearby for visitors which will provide competition to Accor-Mantra". [more - original PR]