Mantra Group, an ASX listed hotel and management rights operator, has purchased the Australian operation of the Outrigger Hotels Group, the management rights for the iconic Soul in Surfers Paradise and the rights to manage Darling Towers on Collins Street in Melbourne. All three acquisitions were settled by Hickey Lawyers on 1 July 2015.
The complex transactions could only be settled on 1 July because of the close teamwork between Hickey Lawyers, headed by Owner/Partner Joe Welch and Mantra Group headed by their Director of Acquisitions, Michael Moret-Lalli.
Hickey Lawyers is proud of its continuing association with Mantra Group as Mantra expand their portfolio of hotels and resorts following a successful listing on the ASX earlier this calendar year.
The three transactions were all very different and complex in their own special ways. The acquisition from Outrigger was a takeover of the Australian subsidiary of Outrigger Hotels International based out of Hawaii. The purchase of the iconic Soul Resort in Surfers Paradise was the acquisition of the management and letting rights, the real estate and leasehold property. The Darling Towers transaction involved a unique arrangement to acquire the right to manage an apartment pool as well as implementing a new form of apartment lease.
The Hickey Lawyers’ team yet again showed their experience with large scale hotel resort management rights transactions.
Should you need assistance in relation to hotels, management rights, tourism assets, liquor and gaming; don’t hesitate to contact Joe Welch, Owner/Partner at Hickey Lawyers.