The deal will see AccorHotels aquire Mantra Groups shares for $3.96 each, boosting Accor's network to over 370 hotels in the Australasia region.

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.

"The combined Accor-Mantra will still compete with other international and national hotel chains, as well as many independent hotels and accommodation providers," ACCC Chairman Rod Sims said.

"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," Mr Sims said.

AccorHotel’s Chairman and CEO, Mr Sebastien Bazin, said: “We have long admired the Mantra business, both in respect of its brands and properties as well as its people and processes. We will be looking to bring together the best of both companies to provide an enhanced experience for our customers and employees in what is an exciting period of growth of the industry in Australia and New Zealand.”

Accor is part of one of the world’s largest hotel and tourism groups, AccorHotels. AccorHotels is listed on the French Stock Exchange. In Australia, Accor has a network of over 200 hotels and offers a range of short-term accommodation options.

Mantra is an Australian accommodation provider listed on the Australian Securities Exchange.

Both Accor and Mantra also supply hotel management and related services to property owners and developers.

Click here to view the official Mantra Group and AccorHotels website.

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