Upmarket hotel group Mandarin Oriental is to open two new owner-operated hotels in Europe and is looking to expand its residences business to the Continent. Group chief executive Edouard Ettedgui told Caterer the company aimed to replicate its approach in the USA, where it is creating a "cluster" of five hotels on the east coast. At present the company has just three European hotels, in Geneva, Munich and London.
"I'd like to have more hotels in Europe and we're working hard to achieve that," said Ettedgui. "There are many benefits in creating a cluster of hotels in a region and I'd be disappointed if by the end of the year we haven't announced a few deals in Europe."
The new hotels would move the company closer to its goal of having 10,000 rooms and continue its strategy of expanding outside Asia.
Ettedgui also plans to grow the company's residences business. The company is creating 65 apartments at the Mandarin Oriental New York, half of which have already been sold at prices ranging from $3m (£1.6m) to $30m (£16m), and its Boston hotel will have about 50. "If we find ways to do it in other cities we will," said Ettedgui.
Source: Caterer & Hotelkeeper magazine, 8 - 14 April 2004