This offset the absence of earnings from Paris following the disposal of the hotel property in 2024.
The group has US$462 million ($599.61 million) headroom in available committed debt facilities, and US$178 million of cash reserves.
Gearing was 3% of adjusted shareholders’ funds, slightly higher than 2% as at the end of last year.
In its interim management statement for the first quarter 2025, the group said that it announced two new hotel and residences management agreements — a resort with residences in Puerto Rico and a luxury hotel in Suzhou, China.
See also: ASL Marine reports earnings of $20.4 mil for 1QFY2026 up 13.3% y-o-y
The group also opened its second property in Paris in April, and took over the management of The Conservatorium Hotel in Amsterdam.
The group’s One Causeway Bay mixed-used commercial redevelopment in Hong Kong is on track to be completed in the second half of the year.
Shares in Mandarin Oriental International (SGX:M04
) closed 1 cent higher or 0.549% up at $1.83 on May 15.
