Mandarin Oriental To Open Five New Hotels In Mideast
, a major luxury hospitality operator, plans to open five new properties in the Middle East, and nearly double its total international portfolio to 41 properties by 2013. Mandarin will manage its first regional property on Abu Dhabi’s Saadiyat Island by August 2013. Christopher Mares, Director of Operations in Europe, Middle East, and Africa, said “The Abu Dhabi property will feature 160 hotel rooms, 35 serviced apartments, and another 50 branded Mandarin Oriental residence that will be offered as freehold.” Mares said there will be no construction delays because of last year’s economic downturn but their plans to open a hotel in Dubai in partnership with Nakheel have been cancelled.
Mandarin Oriental recorded a net asset of $2.1 billion (Dh7.7 bn) in 2009, $1 billion less than net assets in 2008. The company’s group wide revenue per available room fell 16 percent and average room occupancy dropped 68 percent.
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