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Mandarin Oriental To Open A Palace Hotel In Paris
Hamilton, Bermuda: 8th February 2007
- Mandarin Oriental International Limited today announced that the Group has reached agreement with Société Foncière Lyonnaise (€˜SFL') to manage a luxury hotel in Paris, which is planned to open in late 2010. The agreement is conditional on the development of the hotel site receiving city planning approvals, which are currently under negotiation.The Group has signed a long-term lease with SFL, the owner and developer of the property, and as committed approximately US$40 million for furniture, fixtures, equipment and pre-opening costs, which will be invested from 2009 onwards and funded from the Group's cash resources.
Mandarin Oriental, Paris will position itself amongst the palace hotels of the city. The hotel will showcase the best in luxury design with a strong sense of place. Enjoying a pre-eminent address at 247-251 rue Saint Honoré, in the historic and fashionable centre of the city, the hotel will be located within the re-development of a 1930's art deco building. The ideal location will provide easy access to the city's finest shopping, dining and cultural venues. The hotel is surrounded by luxury fashion retailers and is a short walk to the Place Vendome. Internationally renowned Jean Michel Wilmotte has been appointed as the project architect.
The hotel will comprise 150 luxurious guestrooms and suites which will be amongst the largest in the city. An expansive inner courtyard will be a prime feature of the property, along with an extensive choice of restaurants, cocktail lounges and bars. Meetings, private parties and other gatherings will be accommodated in elegant banqueting facilities. The Spa at Mandarin Oriental, Paris will offer holistic rejuvenation and relaxation in a tranquil setting. An indoor swimming pool and fully equipped fitness centre will further add to the hotel's leisure facilities.
"We are delighted to be bringing Mandarin Oriental into the very heart of Paris, one of the world's premier destinations. We look forward to working with SFL on creating a legendary hotel in this pre-eminent location. This is a significant step in our strategy to plant our brand firmly in the world's most important business and leisure destinations," said Edouard Ettedgui, Group Chief Executive of Mandarin Oriental.
"This exciting development promises to provide Paris with an extraordinary new palace hotel, and we look forward to working with Mandarin Oriental on introducing their unique brand and their oriental heritage into the French capital. We are currently working hard to obtain the necessary administrative consents," said Yves Mansion, Director and Chief Executive Officer of SFL.
Mandarin Oriental Hotel Group has today also announced new management contracts for luxury hotels to be developed in the cities of Taipei and Guangzhou, which are planned to open in 2010.
Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world's most prestigious hotels and resorts, currently operating 20 luxury hotels with a further 14 under development in Riviera Maya, Mexico and Hainan Island, China (2007), Barcelona and Boston (2008), Dallas, Chicago, Las Vegas, Macau, Marrakech, Turks and Caicos and Grand Cayman (2009) and Guangzhou, Taipei and Paris (2010). In total, Mandarin Oriental now operates, or has under development, more than 9,000 rooms in 20 countries with 15 hotels in Asia, 12 in The Americas and seven in Europe and North Africa. Mandarin Oriental International Limited is a publicly listed company and a member of the Jardine Matheson Group.