HOTELIER Mandarin Oriental, which is part of the Jardine Matheson Group, saw underlying net profit grow 18.6 per cent to US$65.1 million for the fiscal year 2018.
This was supported by the group's owned properties in Hong Kong and its Singapore hotel, as well as receipt of one-off fees in respect of Las Vegas and Atlanta as management contracts there were terminated following a change in ownership of the properties.For the 12 months ended Dec 31, combined total revenue of hotels under management crept up 1.2 per cent to US$1.4 billion from the year-ago period.
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