Mandarin Oriental reports 13% growth in combined total revenue in 2024, 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. Today, the group operates 41 hotels, 12 residences and 26 homes across 26 markets.
Mandarin Oriental confirms 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 – with a target to more than double by 2033.
Investing in capability now to achieve long-term targets and sustain accelerated growth. Paris property disposed for US$382 million advancing asset-light strategy. “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.”
We have set a bold course for the next decade – one that strengthens our brand, lays the groundwork to double the size of our portfolio, redefines the guest experience through innovation, and creates lasting value for our stakeholders. We have also reinforced our position as a leader in luxury hospitality and continued to build a strong pipeline for future growth. Laurent Kleitman Group CEO.
Mandarin Oriental Doha
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