9 Nov 2016 09:11
To: Business Editor For immediate release
The following announcement was issued today to a Regulatory Information Service approved by the Financial Conduct Authority in the United Kingdom.
MANDARIN ORIENTAL INTERNATIONAL LIMITED
Interim Management Statement
9th November 2016 - Mandarin Oriental International Limited has today issued an Interim Management Statement for the third quarter of 2016.
Earnings during the period were lower than in 2015 as weaker demand continued to affect the Group's key destinations of Hong Kong, London and Paris. Elsewhere, improved performances in Tokyo and Munich offset declines in Jakarta and Washington D.C. The Group expects the challenging trading conditions to continue for the remainder of the year.
In September, Mandarin Oriental Hyde Park, London commenced its 18 month phased renovation.
At 30th September 2016, net debt and gearing were in-line with that which was reported at the half year.
Mandarin Oriental Hotel Group is an international hotel investment and management group with deluxe and first class hotels, resorts and residences in sought-after destinations around the world. Having grown from its Asian roots into a global brand, the Group now operates 29 hotels and eight residences in 19 countries and territories, with each property reflecting the Group's oriental heritage and unique sense of place. Mandarin Oriental has a strong pipeline of hotels and residences under development, with the next hotel opening planned in Doha. Mandarin Oriental International Limited is incorporated in Bermuda and has a standard listing on the London Stock Exchange as its primary listing, with secondary listings in Bermuda and Singapore. It is a member of the Jardine Matheson Group.
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For further information, please contact:
Mandarin Oriental Hotel Group International Limited
Hamish Ross (852) 2895 9288
Sally de Souza (852) 2895 9167
Brunswick Group Limited
Susan Ho (852) 3512 5069
This and other Group announcements can be accessed through the internet at 'www.mandarinoriental.com'.