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HOTELS & TOURISM | Staff Reporter, Singapore

Mandarin Oriental tops hotel, restaurant, and leisure stocks YTD

Its stock price is at $3.7, 98% higher YTD.

Mandarin Oriental is the best performing Hotel, Restaurant, and Leisure stock for the past three months YTD.

According to Singapore Exchange (SGX), Mandarin Oriental said it was undertaking a review of its long-term strategies towards The Excelsior, Hong Kong. It had also received proposals to acquire the property.

The Excelsior is its property with the most rooms at 869. Currently, Mandarin Oriental operates 30 hotels across 20 countries.

The company's stock price is at $3.7, 98% higher YTD.

Here's more from SGX:

For its 1HFY17, underlying earnings before interest, tax, depreciation and amortization were US$62 million, down from US$71 million in 1HFY16.

Overall Group earnings were lower during the first half of the year mainly due to the impact of the on-going phased renovation in London.

The results noted that the renovation of Mandarin Oriental Hyde Park, London remains on schedule, with the first phase due to complete in August. The second phase, which will commence in September, is expected to complete in the second quarter of 2018.

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