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Mandarin Oriental International Limited - 2018 Preliminary Announcement of Results
Hamilton, Bermuda – 28 February 2019 – In a filing with the Bermuda Stock Exchange (“BSX”), Mandarin Oriental International Limited (the “Company”; Ticker: MOIBD.BH) announced its 2018 preliminary results.
Highlights
• 19% increase in underlying profit
• Group to redevelop The Excelsior, Hong Kong as a commercial building
• Mandarin Oriental Hyde Park, London to fully re-open in April 2019
• Seven new management contracts signed
“The outlook for 2019 remains positive. The planned closure of The Excelsior for redevelopment in March 2019, however, will substantially reduce the Group’s underlying profit. Results will benefit from the full opening in the spring of the newly renovated London hotel, partially offset by the impact of the renovations in Bangkok and Madrid. These major investments, together with the Group’s pipeline of new hotels under development, will position the Group for long-term growth.”
Ben Keswick
Chairman
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