By Razak Musah Baba
Mandarin Oriental International Ltd (M04.SG), an operator of
luxurious hotels, resorts and residences, Wednesday said trading
across the group during the period from Jan. 1 to May 6 was broadly
stable.
In Asia, the results of the Hong Kong and Singapore hotels
remained steady, while Bangkok continued to be affected by
challenging conditions.
The company said Europe benefited from further stabilization of
its Paris hotel and improvement in Geneva, which more than offset
softer demand in London.
"In The Americas, while the majority of hotels increased their
average rates, the overall performance was impacted by lower demand
in Washington when compared to the same period last year, which
included the 2013 Presidential Inauguration", the company said.
Mandarin Oriental International Group's financial position
remains healthy, with net debt remaining in line with that reported
at Dec. 31, 2013.
Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
Subscribe to WSJ: http://online.wsj.com?mod=djnwires