By Michael Susin


Mandarin Oriental International Ltd. said on Thursday that net loss for the first half of 2022 narrowed, while revenue nearly doubled, as business volumes improved after the ease of Covid-related restrictions.

The luxury hotel group said its net loss for the period was $18.3 million compared with a loss of $155.9 million a year before.

Net revenue rose to $198.4 million from $101.8 million a year earlier.

However, the company said that challenges remain in China, particularly Hong Kong, and Japan, as restrictions continue to affect its operations.

"The group expects to see improved results in the second half and will continue to benefit from its robust pipeline and opening of new properties and residences," it added.


Write to Michael Susin at michael.susin@wsj.com


(END) Dow Jones Newswires

07-28-22 0600ET