With plenty of IPO's in the pipeline and hitting the market we ask Don Williams, CIO at Platypus AM, what has caught his eye
With plenty of IPO's in the pipeline and hitting the market we ask Don Williams, CIO at Platypus AM, what has caught his eye? We have recently invested in Mantra Group, a property management rights business. We like the leverage to the under-supplied accommodation markets in Australia. Tourism Australia anticipates inbound tourism market to continue to grow strongly especially from Chinese tourists and this to put more pressure on already under-supplied market. Mantra participates in the three to four star accommodation space that is the most under-supplied. In addition, Mantra has a proven track record of successfully integrating bolt on acquisitions and given how fragmented the hotel property management business is we expect management to be able to deliver growth for a number of years.