Mandarin Oriental International Ltd Update Review:Long-term Strategic Options for EXHK (9335R)
September 27 2017 - 2:31AM
UK Regulatory
TIDMMDO TIDMJAR TIDMJDS
RNS Number : 9335R
Mandarin Oriental International Ltd
27 September 2017
To: Business Editor For immediate release
This announcement contains Inside Information.
MANDARIN ORIENTAL - UPDATE TO REVIEW OF LONG-TERM STRATEGIC
OPTIONS FOR THE EXCELSIOR, HONG KONG
27th September 2017 - Mandarin Oriental International Limited
(the 'Company') today announced that having considered the
proposals recently received for the sale of The Excelsior, Hong
Kong, none had met fully its expectations or transaction
requirements. 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.
The Company had announced previously that as part of a review of
its long-term strategic options for The Excelsior it was to test
market interest in the possible sale of the property. On 15th
September 2017, the Company advised that it had received proposals
from potential purchasers to acquire the property, and that these
proposals would form the basis for further consideration of the
Company's strategic options.
A further announcement will be made as required.
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.
- end -
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'.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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