Mandarin In.sg Regulatory News (MDO)

8 Feb 2007 09:05

Mandarin Oriental International Ld08 February 2007 To: Business Editor For immediate release MANDARIN ORIENTAL TO OPEN A PALACE HOTEL IN PARIS 8th February 2007- Mandarin Oriental International Limited today announcedthat the Group has reached agreement with Societe Fonciere Lyonnaise ('SFL')to manage a luxury hotel in Paris, which is planned to open in late 2010. Theagreement is conditional on the development of the hotel site receiving cityplanning approvals, which are currently under negotiation. The Group has signed a long-term lease with SFL, the owner and developer of theproperty, and has committed approximately US$40 million for furniture, fixtures,equipment and pre-opening costs, which will be invested from 2009 onwards andfunded from the Group's cash resources. Mandarin Oriental, Paris will position itself amongst the palace hotels of thecity. The hotel will showcase the best in luxury design with a strong sense ofplace. Enjoying a pre-eminent address at 247-251 rue Saint Honore, in thehistoric and fashionable centre of the city, the hotel will be located withinthe re-development of a 1930's art deco building. The ideal location willprovide easy access to the city's finest shopping, dining and culturalvenues. The hotel is surrounded by luxury fashion retailers and is a short walkto the Place Vendome. Internationally renowned Jean Michel Wilmotte has beenappointed as the project architect. The hotel will comprise 150 luxurious guestrooms and suites which will beamongst the largest in the city. An expansive inner courtyard will be a primefeature of the property, along with an extensive choice of restaurants, cocktaillounges and bars. Meetings, private parties and other gatherings will beaccommodated in elegant banqueting facilities. The Spa at Mandarin Oriental,Paris will offer holistic rejuvenation and relaxation in a tranquil setting. Anindoor swimming pool and fully equipped fitness centre will further add to thehotel's leisure facilities. "We are delighted to be bringing Mandarin Oriental into the very heart ofParis, one of the world's premier destinations. We look forward to workingwith SFL on creating a legendary hotel in this pre-eminent location. This is asignificant step in our strategy to plant our brand firmly in the world'smost important business and leisure destinations," said Edouard Ettedgui, GroupChief Executive of Mandarin Oriental. "This exciting development promises to provide Paris with an extraordinarynew palace hotel, and we look forward to working with Mandarin Oriental onintroducing their unique brand and their oriental heritage into the Frenchcapital. We are currently working hard to obtain the necessary administrativeconsents," said Yves Mansion, Director and Chief Executive Officer of SFL. Mandarin Oriental Hotel Group has today also announced new management contractsfor luxury hotels to be developed in the cities of Taipei and Guangzhou, whichare planned to open in 2010. Mandarin Oriental Hotel Group is the award-winning owner and operator of some ofthe world's most prestigious hotels and resorts, currently operating 20luxury hotels with a further 14 under development in Riviera Maya, Mexico andHainan Island, China (2007), Barcelona and Boston (2008), Dallas, Chicago, LasVegas, Macau, Marrakech, Turks and Caicos and Grand Cayman (2009) and Guangzhou,Taipei and Paris (2010). In total, Mandarin Oriental now operates, or has underdevelopment, more than 9,000 rooms in 20 countries with 15 hotels in Asia, 12 inThe Americas and seven in Europe and North Africa. Mandarin OrientalInternational Limited is a publicly listed company and a member of the JardineMatheson Group. - end - For further information, please contact: Mandarin Oriental Hotel Group International Limited Stuart Dickie (852) 2895 9177Group Finance e-mail: stuartd@mohg.com Jill Kluge 44 (20) 7766 3671Group Communications- Global e-mail: jillk@mohg.com Catherine Martel 44 (20) 7766 3677Group Communications- Europe e-mail:cmartel@mohg.com Sally de Souza (852) 2895 9160Group Communications-Asia e-mail: sallydes@mohg.com Danielle DeVoe 1 (212) 399 3938Group Communications-United States e-mail: ddevoe@mohg.com GolinHarris (852) 2501 7987Kennes Young Weber Shandwick Financial 44 (20) 7067 0700Richard Hews/ Helen Thomas Photography of Mandarin Oriental is available to download, in high and lowresolution, in the Photo Library of our Media section, at 'www.mandarinoriental.com'. 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