News: MTR AccorHotels signs agreement to buy Mantra Group Limited, page-14

I suspect the MTR Board signed the agreement in the hope of flushing out a higher offer from another party.

Do not be surprised if an on market takeover offer comes out of China. The funding in China will be easily found and this is the type of asset the Chinese hierarchy would love to own, making great returns on the exploding numbers of Chinese tourists visiting Australia.

Once sold these assets are unlikely to ever be available again as a bloc, so the Chinese will be thinking very hard about this once in a generation opportunity.

I am so glad I got an invitation to this dance!