Mandarin Oriental Completes The Sale Of Its 50% Equity Interest In Mandarin Oriental, Macau
Mandarin Oriental International Limited announced today that its wholly-owned subsidiary, Mandarin Oriental Holding Company Limited (‘MOHCL’), has completed the sale of its 50% interest in Mandarin Oriental, Macau to Sociedade de Turismo e Diversoes de Macau S. A. (‘STDM’). The sale was first announced on 20th January 2009. The Group’s partner in the hotel, Shun Tak Holdings Limited (‘Shun Tak’), has also sold its 50% equity interest in the property to STDM.
The hotel will be rebranded with effect from 1st August 2009, although the Group will continue to manage the hotel for a period of up to two years so as to ensure a smooth transition of operations to the new owner.
Macau remains an important destination for the Group, and from 2010 it will manage a new 215-room Mandarin Oriental hotel currently being developed on the Macau waterfront.
Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the world’s most prestigious hotels, resorts and residences. Mandarin Oriental now operates, or has under development, 41 hotels representing over 10,000 rooms in 25 countries, with 17 hotels in Asia, 14 in The Americas and ten in Europe and North Africa. In addition, the Group operates, or has under development, 13 Residences at Mandarin Oriental, connected to the Group’s properties. Mandarin Oriental International Limited is a publicly listed company and is a member of the Jardine Matheson Group.
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