Mandarin Oriental International is reviewing long-term strategic options for its iconic Excelsior hotel in Hong Kong.
Among the group’s 29 hotels and eight residences in 19 countries and territories, The Excelsior – a four-star waterfront hotel in Hong Kong’s Causeway Bay District – is the only property that is not branded as Mandarin Oriental.
As part of this review, the hotel group said in a statement that “in light of the current strong commercial property valuations in Hong Kong, (the company) has decided to test market interest in the possible sale of the property”.
The property has approval for the development of a commercial building with a gross floor area of some 63,500m2 on the site, according to the company.
No decision has yet been made and it “would be premature to speculate on the outcome of the review at this time”, Mandarin Oriental stated.