Mandarin Oriental

Mandarin Oriental

Postby kennynah » Wed May 07, 2008 8:09 pm

07 May 2008


Mandarin Oriental sees FY results affected by difficult economic conditions
LONDON (Thomson Financial) - Mandarin Oriental International Ltd. said it expects its results for the remainder of the year to be affected by more difficult economic conditions, particularly in the Americas, although operating conditions have remained stable.

However, the hotel and resort operator said overall its financial position is strong and, notwithstanding any uncertainty in the short term, the long-term outlook remains positive.

Mandarin Oriental is part of the Jardine Matheson group and is listed in London, Bermuda and Singapore.
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Re: Mandarin Oriental

Postby millionairemind » Tue Jan 20, 2009 6:18 pm

January 20, 2009

Mandarin Oriental sells Macau hotel stake for US$205m

By UMA SHANKARI

Mandarin Oriental International, a member of the Jardine Matheson Group, said on Tuesday that it has agreed to sell its 50 per cent interest in the 416-room Mandarin Oriental in Macau for HK$1.6 billion (US$205 million).

The company will sell its stake to Sociedade de Turismo e Diversoes de Macau (STDM). Mandarin Oriental's partner in the hotel, Shun Tak Holdings, will also sell its 50 per cent stake to STDM.

The carrying value of the group's 50 per cent stake in the hotel as at December 31, 2007 was US$15.7 million and its contribution to the group's Ebitda (earnings before interest, tax, depreciation and amortisation) in 2007 was US$10.2 million, the company said.

On the sale's completion, Mandarin Oriental will receive proceeds of about US$90 million with a post tax gain of about US$75 million, which will be recognised in 2009. The proceeds will be used for the group's general corporate purposes, it said.

Completion of the sale is expected by the end of May 2009. The sale is conditional upon approval of the arrangements by Shun Tak's and STDM's respective shareholders as well as other regulatory formalities.

As part of the agreement to sell, Mandarin Oriental and Shun Tak also have the right to participate equally in any increase in the hotel site's value - over and above the agreed value of HK$1.6 billion (US$205 million) - which might arise if the property were to be redeveloped or sold to a third party in the future.

The property will be re-branded by STDM. However, under a short-term management arrangement, Mandarin Oriental will continue to manage the hotel for up to two years to ensure a smooth transition.

'The dynamic city of Macau remains an important destination for the Group. We will work closely with the new owner to ensure a successful transition for this property.

At the same time, the group will manage a new 213-room Mandarin Oriental hotel on the waterfront of Macau, when it opens in early 2010,' said Edouard Ettedgui, group chief executive of Mandarin Oriental Hotel Group.

Source: Business Times
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Re: Mandarin Oriental

Postby behappyalways » Sun Aug 06, 2017 12:38 pm

mandarin-oriental-1h17-earnings-fall-34-us15-mil-due-london-property-renovation-works
https://www.theedgesingapore.com/mandar ... tion-works
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Re: Mandarin Oriental

Postby winston » Wed Sep 27, 2017 1:51 pm

not vested

Mandarin Oriental mulls sale of iconic Excelsior hotel in Hong Kong

Hotel on Causeway Bay waterfront could fetch up to HK$34 billion given high valuations for commercial property in the city

The 848-room hotel is likely to be valued at between HK$24 billion and HK$34.2 billion (US$4.38 billion), or between HK$35,000 and up to HK$50,000 per square foot, with a total gross floor area of 684,000 square feet (63,545 square metres).


Source: SCMP

http://www.scmp.com/business/companies/ ... -hong-kong
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Re: Mandarin Oriental

Postby winston » Wed Sep 27, 2017 1:54 pm

not vested

Sep 15, 2017

Mandarin Oriental receives proposals for Excelsior HK

Source: The Edge

https://www.theedgesingapore.com/mandar ... 0-87358173
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Re: Mandarin Oriental

Postby winston » Wed Sep 27, 2017 2:43 pm

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Mandarin Oriental says Hong Kong hotel offers too low for sale; shares drop 30 pct

HONG KONG (Reuters) - Mandarin Oriental International Ltd on Wednesday said it will not sell The Excelsior hotel for the time being as bids for one of Hong Kong’s most anticipated commercial real estate sales this year were too low, sending its stock down 30 percent.

The Excelsior is in the Causeway Bay shopping district overlooking Victoria Harbour, located on Lot No.1 - the first plot of land sold at auction after Hong Kong became a British Colony in 1841. Local media have reported its value at up to HK$34.2 billion ($4.4 billion).

“As the proposals have not provided the basis for the sale of the property at the current time, the company is continuing to review all options, including those that may result in redevelopment of the property into a commercial building,” Mandarin Oriental said in a statement.

A spokeswoman declined to disclose the number or size of bids received, citing confidentiality.

Shares of Mandarin Oriental tumbled as much as 32 percent to S$1.89 ($1.39) in Wednesday morning trade. Shares of its parent, trading company Jardine Matheson Holdings Ltd, were flat.

Source: Reuters

https://www.reuters.com/article/us-mand ... SKCN1C20BT
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Re: Mandarin Oriental

Postby winston » Wed Sep 27, 2017 6:01 pm

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Mandarin Oriental shares plunge after lacklustre bids push its sale of Excelsior Hotel off the market

Hotel operator withdrew the sale, valued at HK$30 billion, after bids failed to meet its expectations.

The site of the Excelsior, which has been approved by zoning authorities for redevelopment into commercial offices, was estimated by surveyors at between HK$24 billion and HK$34.2 billion, or between HK$35,000 and up toHK$50,000 per square foot, with a total gross floor area of 684,000 square feet (63,545 square metres).


Source: SCMP

http://www.scmp.com/business/companies/ ... otel-after
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Re: Mandarin Oriental

Postby winston » Thu Jan 04, 2018 3:04 pm

vested

Mandarin Oriental shares surge 21pc as it receives potential buyers for Excelsior Hotel

15 September, 2017

It is believed suitors for the four-star hotel include Sun Hung Kai Properties, Hysan Development and a joint venture between Chinese Estates Holdings and China Evergrande Group.

In 2015, Excelsior Hotel secured approval from the Buildings Department to convert the hotel into a 26-storey commercial building over a four-storey basement at 281 Gloucester Road.


Source: SCMP

http://www.scmp.com/property/hong-kong- ... -potential
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Re: Mandarin Oriental

Postby behappyalways » Fri Mar 16, 2018 8:35 pm

Mandarin Oriental reports 1% fall in FY17 earnings to US$54.9 mil
https://www.theedgesingapore.com/mandar ... -us549-mil
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Re: Mandarin Oriental

Postby behappyalways » Sat Jul 28, 2018 4:55 pm

Mandarin Oriental's 1H earnings up 49% to $30.3 mil
https://www.theedgesingapore.com/mandar ... 49-303-mil
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