Mandarin Oriental International Limited 2024 Preliminary Announcement of Results

HIGHLIGHTS

13% growth in combined total revenue, up to US$2.1 billion, and 15% growth in hotel management fees driven by strong RevPAR increases in all regions

Underlying profit after tax of US$75 million in 2024, 8% lower than 2023 due to lower one-off residences branding fees

Accelerated growth with five new hotels and residences planned to open in 2025

Strong pipeline replenishment with the announcement of eight new management contracts including the latest additions: Hôtel Lutetia in Paris, the Conservatorium Hotel in Amsterdam, Puerto Rico in the Caribbean, and Suzhou in China

41 hotels under management, a milestone in global footprint, with a target to more than double by 2033

Investing in capability now to achieve long-term targets and sustain accelerated growthParis property disposed for US$382 million advancing asset-light strategy

Final dividend of US¢3.50 per share, resulting in stable total dividends of US¢5.00 per share

“With a new vision and a brand-led, guest-centric strategy, supported by renewed dynamic leadership and effective governance, Mandarin Oriental is well-positioned to enhance further its desirability and deliver accelerated growth as an ultra-luxury hospitality brand, as well as to create value for its shareholders, partners, and communities over the next 10 years.”

Ben Keswick, Chairman

LINK DIRECTLY TO SOURCE: Mandarin Oriental International Limited 2024 Preliminary Announcement of Results

The Team

at LEADING HOTELIERS NETWORK / JOB LEAD SERVICE

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