Mandarin Oriental Targets Growth Through Chain Acquisition
Leading Hong Kong based hotel operator Mandarin Oriental Hotels International has reportedly shown an interest in the acquisition in fast tracking expansion though acquisition of other luxury hotel brands that fit into it's development profile.
Comments made by the Group's Chief Executive Office Edouard Ettedgui has said that the long term target of 200 hotels will need to come through a mixture of development, and acquisition. Despite a GFC (global financial crises) Mandarin continues to hold over US$563 million in cash according to Bloomberg. Asia and South America have proved to be the 'go to' markets for a transaction with various prospective deals coming to Mandarin.
Mandarin remains a well-respected global and regional brand, though currently do not have a deal in Phuket under contract. A number of years ago the group managed the Royal Phuket Yacht Club under a management agreement.