
Mandarin Oriental slated to unveil Pudong Shanghai unit in 2Q13
Taipei will be next.
According to Nomura, MOIL now operates 28 hotels, compared with 26 at the start of 2012, and has a further 16 hotels under development.
Together these represent over 11,000 rooms in 27 countries. In addition, the Group operates six Residences at Mandarin Oriental connected to its properties, with a further eight under development.
In February 2013, MOIL acquired the freehold rights of the building housing Mandarin Oriental, Paris and two prime retail units for €290mn (US$389mn). MOIL previously
leased the hotel under a long-term contract.
Here's more from Nomura:
Mandarin Oriental, Guangzhou, which is located in the city’s central business district, opened in January 2013 and features 263 rooms and 24 serviced apartments.
Mandarin Oriental, Pudong Shanghai is scheduled to open in the second quarter of 2013, followed by Mandarin Oriental, Taipei later in the year.
During 2012, management contracts for new hotels under development in Bodrum in Turkey, Marrakech in Morocco, and Chengdu in China were announced.
In addition, the Group assumed management of an existing 127-room luxury hotel in the United States, which has been rebranded Mandarin Oriental, Atlanta.
While global economic conditions remain uncertain, MOIL’s results should benefit from the strength of its portfolio, the acquisition of the Paris property and the limited new supply of luxury hotels in the Group’s key markets.