Mandarin Oriental says earnings before interest, tax, depreciation and amortisation for the first six months of 2010 were US$58 million ($79.2 million) compared to US$35 million in the first half of 2009.

The group’s underlying profit for the period was US$13 million, up from US$1 million in the same period in 2009.

Profit attributable to shareholders was also US$13 million, which compares with US$74 million in the first half of 2009 which included a gain on a property disposal.

Mandarin Oriental says occupancy in the group’s hotels benefited from increased demand in the first half of 2010. The strongest performances were in Asia, particularly Hong Kong. Occupancies have, however, not yet reached the levels achieved in 2008, limiting the group’s capacity to raise average room rates. Across the portfolio, strict cost control measures continued to be enforced, and the hotels have successfully maintained or enhanced their relative market positions.

The group’s two wholly-owned Hong Kong hotels benefited from increased demand particularly from the corporate segment.

At Mandarin Oriental, Hong Kong, revenue per available room (RevPAR) increased by 46% over the same period last year, with improvements in both occupancy and rate. The Excelsior, Hong Kong also achieved stronger occupancy, at 84%, and produced an increase in RevPAR of 30%. Mandarin Oriental, Tokyo, which operates under a long-term lease, attracted higher occupancy despite new competitive supply in the market.

The Manila hotel saw an increase in its corporate travel segment.

Mandarin Oriental, Jakarta achieved a significantly higher average rate following its re-opening at the end of 2009 after a comprehensive renovation, but it will need time to build occupancy in an over-supplied market.

In Europe, the performance of the group’s wholly-owned London hotel remained strong in a market which was less affected in 2009 by the weaker global economy.

Both the Munich and Geneva hotels recorded higher RevPAR as a result of strengthening demand.

In the USA, the first-half performance at the 80%-owned Washington D.C. hotel declined in comparison with the same period in 2009, which had benefited from activities surrounding the Presidential Inauguration.

The share of results of associates and joint ventures rose due to stronger market conditions in Singapore, Kuala Lumpur, New York and Miami.

Bangkok started the year well, but was impacted by political protests from March onwards.

Mandarin Oriental currently operates 26 hotels and has a further 16 under development. Together these represent 17 hotels in Asia, 13 hotels in The Americas and 12 hotels in Europe, Middle East and North Africa.

In addition the group operates, or has under development, 14 Residences at Mandarin Oriental connected to the group’s properties.

The new 213-room Mandarin Oriental, Macau, located in the prestigious One Central complex, opened at the end of June.

The group has recently announced that it will brand and manage the 92 Residences and Apartments at Mandarin Oriental located above the hotel.