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Mandarin Oriental posts 38% decline in FY16 earnings to $77.9 mil

Michelle Zhu
Michelle Zhu3/2/2017 05:51 PM GMT+08  • 2 min read
Mandarin Oriental posts 38% decline in FY16 earnings to $77.9 mil
SINGAPORE (March 2): Mandarin Oriental, a member of the Jardine Matheson Group, has declared FY16 earnings of US$55.2 million ($77.9 million), 38% down from its earnings of $89.3 million in the previous year on weak demand in a number of its key cities.
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SINGAPORE (March 2): Mandarin Oriental, a member of the Jardine Matheson Group, has declared FY16 earnings of US$55.2 million ($77.9 million), 38% down from its earnings of $89.3 million in the previous year on weak demand in a number of its key cities.

For the full year ended Dec 31, the group’s combined total revenue of hotels under management declined by 1% to US$1.3 billion.

Revenue per available room (RevPAR) across the group’s 29 hotels in US dollar terms fell by 3% on a like-for-like basis, which the group attributes to challenging conditions in many of its destinations in 2016.

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