FULL HOUSE Accor already has 205 properties with 27,401 rooms in Australia, including Novotel, Ibis and Mercure hotels. Mantra’s properties include luxury retreats and coastal resorts, as well as serviced CBD apartments. Picture: BLOOMBERG/MARTIN LEISSL
FULL HOUSE Accor already has 205 properties with 27,401 rooms in Australia, including Novotel, Ibis and Mercure hotels. Mantra’s properties include luxury retreats and coastal resorts, as well as serviced CBD apartments. Picture: BLOOMBERG/MARTIN LEISSL

Accor SA, Europe’s biggest hotel operator, has offered to buy Australia’s Mantra Group in a deal that values the hotel and resort operator at A$1.2bn.

The French company offered A$3.96/share in cash for Mantra and was given access to its books, the target said in a statement. The deal would be Accor’s biggest acquisition in the Asia-Pacific region, giving it an additional 20,000-plus rooms across Australia, New Zealand and Indonesia, and access to a growing tourism market. — Bloomberg

German industry ends summer lull

German industry rebounded from a summer lull with its best month in six years, keeping Europe’s largest economy on a solid footing in the second half of the year. Output, adjusted for seasonal swings and inflation, increased 2.6% from July, when it fell a revised 0.1%, the economic ministry in Berlin said on Monday. That’s the biggest increase since July 2011 for the typically volatile gauge, and it compares with forecasts for a 0.9% gain. Production was up 4.7% from a year earlier. — Bloomberg

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