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Mandarin Oriental MDO Interim Management Statement



  Mandarin Oriental (MDO) - Interim Management Statement

RNS Number : 5248Q
Mandarin Oriental International Ld
07 November 2012
 



To:  Business
Editor                                                                      
For immediate release

 

The following announcement was issued today to a Regulatory Information
Service approved by the Financial Services Authority in the United Kingdom.

                                                                 

MANDARIN ORIENTAL INTERNATIONAL LIMITED

Interim Management Statement

 

7th November 2012 - Mandarin Oriental International Limited has today issued
an Interim Management Statement covering the period from 1st July to 6th
November 2012 in accordance with the requirements of the Disclosure and
Transparency Rules of the Financial Services Authority in the United Kingdom.

 

Global economic conditions remained challenging during the period, and the
results from the Group's Hong Kong hotels were affected by a reduced level of
corporate business.  Nevertheless, many Group hotels benefited from positive
trading environments, and further recovery was seen in both Tokyo and Bangkok
following last year's natural disasters. Occupancy at Mandarin Oriental, Paris
increased further, as it continued to position itself as one of the city's
leading hotels.  Overall, Group earnings are ahead of the same period in 2011.

 

Looking forward, the Group expects corporate demand to remain subdued for the
remainder of the year in some of its key markets.

 

The Group now has under development 17 hotels and nine Residences projects,
with the next openings scheduled for Guangzhou and Shanghai before the end of
the first quarter of 2013.

 

The Group's financial position remains strong, with a conservative level of
net debt in line with that reported at the half year.

 

Mandarin Oriental Hotel Group is the award-winning owner and operator of some
of the world's most prestigious hotels and resorts.  The Group now operates,
or has under development, 45 hotels representing 11,000 rooms in 28 countries,
with 19 hotels in Asia, 13 in The Americas and 13 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.

 

                                                                                         
- end -

 

For further information, please contact:

 

Mandarin Oriental Hotel Group International Limited

Craig Beattie (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'.

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
IMSKDLBBLFFBFBK -0- Nov/07/2012 09:10 GMT
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