Mantra Group (MTR) Another property joins the MTR stable→ Post being added to the ASX200 index, MTR has been a strong out-performer in a volatile market. MTR confirmed late last week, that it has further increased its footprint on the Brisbane market having acquired the Management and Letting Rights for the M on Mary apartment hotel, with the addition of another MTR hotel being added to the stable from November 2015. At its FY15 result, MTR listed this property as contracted but not yet unconditional – so it appears to be now unconditional. MTR’s goal is to add 600-800 rooms per annum to the network – this property is 367 rooms in one asset. Remains a strong pick/ high conviction BUY- $4.40P.T. (VIEW LINK)
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