Parramatta. Bids rejected

The owners of hotel and resort chain, Mantra Group, which has the Mantra Parramatta
In the CBD, private equity group CVC Asia Pacific and investment bank UBS, rejected three bids for the company as they did not fully value the operation.

Parramatta. Hotel group for sale

InterContinental Hotels Group and private equity group Archer Capital are believed to be interested in purchasing the $400 million Mantra Group, which has a hotel in the Parramatta CBD.

Parramatta hotel changes its name

The Stella Hospitality Group, the third largest branded hotel group in Australia, has acquired the Pacific International Suites, in the Parramatta CBD, and renamed it the Mantra Parramatta. In addition to Mantra, the group’s brands include Peppers, Breakfree and Protea. The group has some 15,000 rooms.