SINGAPORE (June 5): Mandarin Oriental International, a member of the Jardine Matheson Group, announced it will be reviewing its long-term strategic option with The Excelsior, Hong Kong.

The hotel is located in a prime commercial water-front site in the Causeway Bay District of Hong Kong and the only one in the group’s property not carrying the Mandarin Oriental brand.

In light of the current strong commercial property valuations, Mandarin Oriental says it has decided to test market interest in the possible sale of the property.
 
With a GFA of about 63,500 sqm, the site is approved for the development of a commercial building.

However, the group says nothing has been concluded on a preferred course of action and warn investors against speculating on the review’s outcome at this moment.

Shares of Mandarin Oriental last traded at US$1.50.