Mandarin Oriental Plans Further Expansion

NEW YORK Mandarin Oriental, the Hong Kong-based hotel company which recently acquired the Rafael Group for $142.5 million, plans further expansion to confirm its position as a global player in the luxury hotel market. Further expansion is planned in strategic markets which currently escape the brand, such as Tokyo, Seoul, Beijing and Shanghai in North Asia; Los Angeles and Chicago in the U.S.; and Paris and Frankfurt in Europe. China is considered a most important location due to its potential as an outbound market. A flagship hotel in such a key destination is perceived as the best way to market the group. Since the acquisition, most Rafael hotels have been rebranded as Mandarin Oriental hotels, although exceptions include The Mark in New York and the Hotel Schloss Fuschi in Salzburg. (12/8/00) SOURCE:HVS International NEW YORK Mandarin Oriental, the Hong Kong-based hotel company which recently acquired the Rafael Group for $142.5 million, plans further expansion to confirm its position as a global player in the luxury hotel market. Further expansion is planned in strategic markets which currently escape the brand, such as Tokyo, Seoul, Beijing and Shanghai in North Asia; Los Angeles and Chicago in the U.S.; and Paris and Frankfurt in Europe. China is considered a most important location due to its potential as an outbound market. A flagship hotel in such a key destination is perceived as the best way to market the group. Since the acquisition, most Rafael hotels have been rebranded as Mandarin Oriental hotels, although exceptions include The Mark in New York and the Hotel Schloss Fuschi in Salzburg. (12/8/00) SOURCE:HVS International