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Mandarin Oriental Completes Purchase of the Freehold Interest in the Building Housing Mandarin Oriental, Paris

Hong Kong, 8 February 2013 –Mandarin Oriental Hotel Group announced today that it has completed the purchase of the freehold interest in the building housing Mandarin Oriental, Paris and two prime street front retail units (collectively, the 'Property') from Société Foncière Lyonnaise for €290 million (US$388.9 million).

The transaction was partly funded by new five-year €150 million (US$201.1 million) debt facilities, with the balance from the Group’s cash reserves.

Edouard Ettedgui, Group Chief Executive, said "This transaction has provided our Group with a rare opportunity to own a prime piece of real estate in a key gateway city which is an important destination for our luxury brand. The acquisition is expected to be earnings enhancing and to bring a number of additional benefits including single ownership and the opportunity for future expansion for the hotel."

The Property is located on the prestigious Rue St Honoré, within walking distance of the city's famous cultural attractions and world class retail.

The Property has a net lettable floor area of approximately 17,400 sq. m., and had rental income of €10.7 million (US$14.3 million) for the 12 months ended 31st December 2012.

About Mandarin Oriental Hotel Group

Mandarin Oriental Hotel Group is the award-winning owner and operator of some of the most luxurious hotels, resorts and residences. Having grown from a well-respected Asian hotel company into a global brand, the Group now operates, or has under development, 44 hotels representing close to 11,000 rooms in 25 countries, with 20 hotels in Asia, ten in The Americas and 14 in Europe, Middle East and North Africa. In addition, the Group operates or has under development, 13 Residences at Mandarin Oriental connected to its properties.

Photography of Mandarin Oriental is available to download in the Photo Library of our Media section, at www.mandarinoriental.com.

Visit Destination MO (http://www.mandarinoriental.com/destination-mo/), the online version of Mandarin Oriental Hotel Group’s bespoke publication, MO. News about our award-winning hotels, the best dining experiences, spa treatments, travel retreats and interviews with the Group’s celebrity fans is now just a click away. Further information is also available on our Social Media channels.

CORPORATE CONTACT

Sally De Souza
Communications – Corporate/Asia

+852 2895 9160
sallydes@mohg.com 

Live Haugen
Communications - Europe, Middle East and Africa

+44 20 7908 7813
lhaugen@mohg.com 

Danielle DeVoe
Communications - The Americas

+1 (212) 830 9380
ddevoe@mohg.com 

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