Toward the start of August Stella Group announced that it had completed a major financial restructure, which would see the company split into two separate businesses and its debt comfortably refinanced into long term agreements. Stella Travel Services would assume approximately $40M, while Stella Hospitality Group would carry $245M.
Following on from the financial restructuring, Stella Hospitality Group announced on Friday 14th that it was rebranding itself to Mantra Group, to further distance itself from the embattled Octaviar, previously MFS Limited.
Now I’ll need to remember to tell people I work for Mantra Group and not Stella Hospitality Group!