Last checked at 15 May 2013 12:35
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
15th May 2013 - Mandarin Oriental International Limited has today issued its Interim Management Statement covering the period from 1st January to 14th May 2013.
Despite the uncertainty in global economic conditions, trading momentum was positive across the Group. The performance of the Group's Asian hotels remained robust, with both Tokyo and Bangkok benefiting from the continued recovery in visitor arrivals. In Europe, the effects of marginally softer demand in London and subdued results in Geneva in difficult market conditions were more than offset by further stabilization of the Paris hotel. In The Americas, all the Group's hotels performed well as demand increased.
Two new luxury hotels were added to the Group's portfolio, with Mandarin Oriental, Guangzhou opening in January, followed in April by Mandarin Oriental Pudong, Shanghai. The Group has also announced that it will manage a 130-room luxury hotel under development on the shore of the Bosphorus in Istanbul, Turkey, which is due to open in 2016. The Group now has 16 hotels under development, of which nine include Residences projects. Mandarin Oriental, Taipei, together with its associated Residences, is scheduled to open at the end of the year.
In February, the Group acquired the freehold rights of the building housing Mandarin Oriental, Paris and two prime retail units for €290 million (US$389 million). After accounting for this acquisition, the Group's balance sheet remains strong.
Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world's most prestigious hotels, resorts and residences. The Group now operates, or has under development, 45 hotels representing over 11,000 rooms in 27 countries, with 19 hotels in Asia, 12 in The Americas and 14 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 premium listing on the London Stock Exchange, 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
GolinHarris
Kennes Young (852) 2501 7987
This and other Group announcements can be accessed through the Internet at 'www.mandarinoriental.com'.