Last checked at 15 Sep 2017 10:11
To: Business Editor For immediate release
MANDARIN ORIENTAL - REVIEW OF LONG-TERM STRATEGIC OPTIONS FOR THE EXCELSIOR, HONG KONG
15th September 2017 - Mandarin Oriental International Limited (the 'Company') announced on 5th June 2017 that it was undertaking a review of its long-term strategic options with regard to The Excelsior, Hong Kong. As part of that review the Company had decided to test market interest in the possible sale of the property.
The Company today announced that it has received proposals from potential purchasers to acquire the property. These will form the basis for further consideration of the Company's strategic options.
A further announcement will be made as required. No assumption should be made at this time regarding whether the property will or will not be sold.
Mandarin Oriental currently operates 30 hotels and eight residences in 20 countries and territories. The Group's hotels are all five star luxury properties, with the exception of The Excelsior, Hong Kong which is a leading four star hotel. It also has a strong pipeline of hotels and residences under development. Mandarin Oriental International Limited is incorporated in Bermuda and has a standard 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:
Brunswick Group Limited
Joanna Donne (852) 9221 3930
Karin Wong (852) 9755 6265
Tom Burns (44) 20 7396 5308
This and other Group announcements can be accessed through the internet at 'www.mandarinoriental.com'.