The deal was agreed in October 2017 and inked on Thursday (May 31), with Accor acquiring Mantra Group in its entirety.

Mantra’s portfolio extends to more than 24,000 across 138 properties in Australia, New Zealand, Indonesia and Hawaii.

They range from luxury hideaways and coastal resorts to serviced city apartments.

The deal will also bring its Mantra, Peppers, BreakFree and Art Series brands under the Accor brand.

In a statement, Accor said: “AccorHotels announces the scheme of arrangement with Mantra Group has been implemented today.

“Total consideration for the transaction was AU$1.3bn (€830m/£730m). AccorHotels is now the only shareholder in Mantra.”

According to the announcement last October, Mantra has more than 5,500 employees.

The deal marks a shift in Paris-based Accor’s typical brand line-up, with Mantra more focused on serviced apartment accommodation.

Accor’s existing brands include Sofitel, Novotel, ibis and Mercure, extending to nearly 4,000 hotels across more than 90 countries.