Less Ads, More Data, More Tools Register for FREE

Pin to quick picksJDS.L Regulatory News (JDS)

  • There is currently no data for JDS

Interim Management Statement

5 Nov 2014 10:08

RNS Number : 2071W
Mandarin Oriental International Ltd
05 November 2014
 



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

 

5th November 2014 - Mandarin Oriental International Limited has today issued its Interim Management Statement covering the period from 1st July to 4th November 2014.

 

The trading momentum across the majority of the portfolio remained positive, although some of the Group's hotels experienced challenging conditions. In Asia, the ongoing political uncertainty in Bangkok continued to affect results, and while the Group's Hong Kong hotels had been trading well, occupancy has suffered from the continuing demonstrations in the city. Europe benefited from further progress in Paris and an improvement in Geneva, which more than offset softer demand in London. The results in The Americas were impacted by lower demand in Washington D.C.

 

The Group's development projects remained active. In July, the Group opened Mandarin Oriental, Bodrum, a luxury resort in Turkey. In September, a management contract was announced for a 200-room urban resort in Dubai, scheduled to open in 2017. Following the announcement of a management contract for a new luxury hotel in Manila, due to open in 2020, the Group's existing hotel in the city was closed in September. Two new hotels are planned to open within the next 12 months, in Marrakech and Milan. In October, the Group also announced it is to brand and manage 146 Residences at Mandarin Oriental in Bangkok that will be developed as part of a large mixed-use project located diagonally across Chao Phraya river from Mandarin Oriental, Bangkok.

 

The Group remains in a strong financial position, with net debt in line with what was reported at the half year.

 

Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the most luxurious hotels, resorts and residences. Having grown from a well-respected Asian hotel company into a global brand, the Group now operates, or has under development, 45 hotels representing close to 11,000 rooms in 25 countries, with 20 hotels in Asia, ten in The Americas and 15 in Europe, Middle East and North Africa. In addition, the Group operates or has under development, 14 Residences at Mandarin Oriental connected to its properties. 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.

 

- end -

 

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

Vanessa Gourlay (852) 3512 5079

 

This and other Group announcements can be accessed through the internet at 'www.mandarinoriental.com'.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
IMSBELFBZFFBFBQ
Date   Source Headline
15th Jun 20063:43 pmRNSResult of AGM
7th Jun 200611:04 amRNSDividend
6th Jun 200610:33 amRNSJC&C 1st Quarter Results
5th Jun 200611:42 amRNSDividend
23rd May 200610:21 amRNSBermuda Takeover Code
17th May 200611:45 amRNSAnnual Information Update
17th May 200611:41 amRNSHolding(s) in Company
3rd May 200610:31 amRNSCircular to Shareholders
3rd May 200610:28 amRNSAnnual Report and Notice
28th Apr 200611:41 amRNSAstra 2006 1st Qtr Results
20th Apr 200611:37 amRNSDirector/PDMR Shareholding
3rd Apr 200612:46 pmRNSDirector/PDMR Shareholding
3rd Apr 200612:42 pmRNSDirector/PDMR Shareholding
3rd Apr 200612:38 pmRNSDirector/PDMR Shareholding
3rd Apr 200612:33 pmRNSDirector/PDMR Shareholding
3rd Apr 200611:19 amRNSDirector Declaration
31st Mar 200612:07 pmRNSDirector/PDMR Shareholding
30th Mar 200612:36 pmRNSDirector/PDMR Shareholding
30th Mar 200612:34 pmRNSDirector/PDMR Shareholding
30th Mar 200612:29 pmRNSDirector/PDMR Shareholding
29th Mar 200610:05 amRNSFinal Results
24th Mar 20069:21 amRNSJC&C Financial Statements
23rd Mar 200612:33 pmRNSAstra Financial Statements
23rd Mar 20069:30 amRNSDirectorate Change
6th Mar 20069:34 amRNSNotice of Results
9th Jan 200611:31 amRNSDirector/PDMR Shareholding
9th Jan 200611:26 amRNSDirector/PDMR Shareholding
9th Jan 200611:26 amRNSDirector/PDMR Shareholding
9th Jan 200611:23 amRNSDirector/PDMR Shareholding
23rd Dec 20057:34 amRNSResult of EGM of JC&C
21st Dec 200510:35 amRNSDirector/PDMR Shareholding
19th Dec 200511:25 amRNSDirector/PDMR Shareholding

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.