The Mantra Group is set to expand its presence in Tasmania with the acquisition of two properties – the Hotel Collins in Hobart and the Hotel Charles in Launceston.

Mantra Group negotiated an off-market opportunity to secure the leaseholds from Tasmanian businessman Lyndon Jago, who currently markets the hotels under the Stay Tasmania brand. Mantra Group will now operate the hotels under a lease agreement with owners Sultan Holdings Pty Ltd in Hobart and Joseph Chromy in Launceston.

Mantra Group CEO Bob East said the new hotels were a significant addition to the Mantra portfolio.

“Hobart and Launceston are strong markets and with forecasted domestic leisure visitation growth, future market conditions are favourable for each.

“Both hotels have an excellent reputation, ranking in the top ten for their respective cities on TripAdvisor, and they are an ideal addition to the Mantra brand with their dual leisure and corporate appeal.”

Hotel Collins features 80 guest rooms and apartments boardroom for small meetings, while Hotel Charles has 99 contemporary rooms and an extensive range of facilities including a 60 seat restaurant, conference room for up to 60 delegates, guest lounge, and private dining room and boardroom.

The hotels will rebrand as Mantra Collins Hotel Hobart and Mantra Charles Hotel Launceston on April 30, 2015.