REG - Mandarin Oriental Jardine Matheson Hdg - INTERIM MANAGEMENT STATEMENT

Mandarin Oriental InternationalAnnouncement

15/05/2025 11:45

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RNS Number : 8566I  Mandarin Oriental International Ltd  15 May 2025

ANNOUNCEMENT

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

MANDARIN ORIENTAL INTERNATIONAL LIMITED

Interim Management Statement

15 May 2025 - Mandarin Oriental International Limited today issues its Interim
Management Statement for the first quarter of 2025.

 

Laurent Kleitman, Group Chief Executive, said:

"Clear vision, strategy, and sharpened focus have enabled early wins this year
with solid growth in RevPAR and market share globally. We have strategically
expanded our global footprint - most notably with the addition of the iconic
Mandarin Oriental Lutetia, Paris, to our portfolio. Concurrently, we continue
to elevate the brand through significant investments in our founding flagship
hotels in Hong Kong and Bangkok, reinforcing our commitment to delivering
exceptional, brand-led, guest-centric experiences. We remain focused on
driving long-term value creation for the Group as we execute our growth

strategy."

 

In Q1, the Group reported higher Revenue per Available Room ('RevPAR') in all
regions compared to the prior year. The Management Business drove higher hotel
management fee income from strong hotel RevPARs and continued to invest in the
capability to enable the Group to execute against its long-term growth
strategy. Owned Hotels, particularly in Hong Kong, generated higher
profitability than the prior year, offsetting the absence of earnings from
Paris following the disposal of that hotel property in 2024. Overall, the
Group's underlying profit in the quarter was higher than last year.

 

The Group has also made excellent progress in accelerating the growth of its
portfolio. In the first quarter, two new hotel and residences management
agreements were announced: a resort with residences in Puerto Rico, offering
an immersive experience at Esencia in Boquerón Bay, and a luxury hotel in
Suzhou, China, featuring panoramic views of the renowned Jinji Lake. In April,
the Group strengthened its European presence with the opening of its second
property in Paris - Mandarin Oriental Lutetia, Paris. The Group also took over
the management of The Conservatorium Hotel, its first flag in Amsterdam, and
targets to complete the rebranding of this property in 2026.

 

Reaffirming our commitment to delivering brand-led, guest-centric experiences,
in April, the Group announced substantial multi-million-dollar investments
into its two founding flagship hotels - Mandarin Oriental, Hong Kong, and
Mandarin Oriental, Bangkok. This dedication was also recognised with Amber at
The Landmark Mandarin Oriental, Hong Kong, earning three coveted Michelin
stars in March - a testament to the Group's relentless pursuit of exceptional
culinary experiences.

 

One Causeway Bay - the Group's mixed-use commercial redevelopment in Hong Kong
remains on budget and on track to be completed in the second half of the year.
The Group's liquidity position remains robust, with US$462 million headroom in
available committed debt facilities and US$178 million of cash reserves.
Gearing was 3% of adjusted shareholders' funds, slightly higher than 2% at the
end of last year.

 

Mandarin Oriental Hotel Group is the award-winning owner and operator of some
of the world's most luxurious hotels, resorts and residences. Having grown
from its Asian roots into a global brand, the Group now operates 43 hotels, 12
residences and 26 exceptional homes in 26 countries and territories, with each
property reflecting the Group's oriental heritage, local culture and unique
design. Mandarin Oriental has a strong pipeline of hotels and residences under
development.

 

Mandarin Oriental International Limited is incorporated in Bermuda and has a
primary listing in the equity shares (transition) category of the London Stock
Exchange, with secondary listings in Bermuda and Singapore. The activities of
the Group's hotels are managed from Hong Kong. Mandarin Oriental is a member
of the Jardine Matheson group.

 

- end -

 

For further information, please contact:

 

Max Fleming (Director of Corporate Finance)
                            (852) 2895 9171

 

Chris Orlikowski (Director of Global
Communications)
(44) 791 7280 210

 

William Brocklehurst (Brunswick Group Limited)
                        (852) 5685 9881

 

This and other Group announcements can be accessed online at
'www.mandarinoriental.com'.

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