French hotelier AccorHotels' proposed A$1.18 billion buyout of Australian hotel and resort operator Mantra Group Ltd. will not be called into question by the Australian Competition and Consumer Commission, or ACCC.
The Australian watchdog determined after a detailed review that there is sufficient competition from other international and national hotel chains, independent hotels and accommodation providers for the merged company, ACCC Chairman Rod Sims said in a release.
AccorHotels mainly offers hotel-style accommodation under the Sofitel, Novotel, Mercure and ibis brands. Mantra, on the other hand, offers serviced apartments under the Peppers, Art Series, Mantra and Breakfree brands.
