Mandarin Oriental International saw its luxury London hotel put in a strong turn in the first half of the year, as the group’s performance continued to improve.
Mandarin Oriental London, which will house Heston Blumenthal’s new restaurant Diner from December this year, was just one of many regions that saw an uplift in the six months to 30 June, with Asia leading the improving pack.
It meant revenue for the period was up 22 per cent year-on-year at $474.2m (£304m) with earnings 68 per cent higher at $57.8m (£37m).
Simon Keswick, chairman, said: “While a full recovery is dependent on global economic conditions, the group’s performance is expected to improve as rates and occupancies continue to move towards pre-crisis levels.”
The group operates 26 hotels, although some of the 16 currently in development have suffered delays due to economic conditions. Despite this the group said it was reviewing an increasing number of city centre and resort opportunities.