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    M04   BMG578481068

MANDARIN ORIENTAL INTERNATIONAL LIMITED

(M04)
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Delayed Singapore Stock Exchange  -  09:29 2022-06-27 pm EDT
1.870 USD   -0.53%
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Mandarin Oriental to Open Luxury Hotel in Cairo, Egypt

03/23/2022 | 08:46am EDT

Mandarin Oriental Hotel Group has announced a management agreement to rebrand the historic Shepheard Hotel in Cairo, Egypt. This will be the Group's first hotel in Egypt and further expands the brand's portfolio in the region.

The celebrated Shepheard Hotel first opened its doors in 1841 and remains a landmark in the city, respected by the local community and well known internationally. A comprehensive renovation of the property is already underway and Paris-based interior designer, Sybille de Margerie, is tasked with preserving the building's heritage design while enhancing the facilities and services. Upon completion, currently anticipated for 2024, the hotel will re-open as Mandarin Oriental Shepheard, Cairo.

Situated on the eastern shore of The Nile river, in the heart of Downtown Cairo, the property will feature 188 rooms and 88 suites, many with balconies, providing excellent views over the city, the Nile and Gezira island. The hotel is ideally located to explore the city's renowned attractions such as the historical Egyptian Museum, Khan el-Khalili Souq and Al-Azhar Mosque, and provides easy access to the river, key commercial buildings, and vibrant shopping, restaurants and cafes.

Mandarin Oriental Shepheard, Cairo will feature five restaurants and bars, including a rooftop restaurant for al fresco dining, as well as an exclusive club lounge. The hotel will also offer expansive function spaces, including a rooftop ballroom, making this the ideal destination for conferences and social gatherings of all sizes.

An all-encompassing Spa at Mandarin Oriental will provide eight treatment suites and offer the tailored experiences and signature treatments for which the Group is renowned. Further wellness facilities include an indoor lap pool, a rooftop swimming pool, a beauty salon, fitness centre and a kid's club.

The project developer is Al Sharif for Tourism and Hotels, an Egyptian Closed Joint Stock Company that is a subsidiary of Al Sharif Group Holding, the Saudi holding group based in Jeddah, Saudi Arabia, who won the concession to redevelop the site from the Egyptian General Company for Tourism and Hotels in 2020.

James Riley, Group Chief Executive of Mandarin Oriental said, 'We are delighted to extend Mandarin Oriental's renowned levels of hospitality into Egypt and to work with Al Sharif Group Holding on bringing this iconic and historic hotel back to life. The project presents an ideal opportunity to further grow our brand in the Middle East & Africa, and we look forward to creating many unique experiences for our guests.'

'Mandarin Oriental is an award-winning international brand, renowned for its exemplary service and attention to detail' said Mr Nawaf Faiz Al-Sharif, President of Al-Sharif Group. 'They are the ideal partner for this unique project, and we look forward to working together on enhancing Cairo's appeal and creating the most sophisticated luxury hotel in the city' he added.

VP, Marketing Communications

Shevaun Leach

SHEVAUNL@MOHG.COM

+852 2895 9286

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
JARDINE MATHESON HOLDINGS LIMITED -1.63% 52.43 Delayed Quote.-3.11%
MANDARIN ORIENTAL INTERNATIONAL LIMITED -0.53% 1.87 Delayed Quote.-16.07%
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Financials (USD)
Sales 2021 317 M - -
Net income 2021 -141 M - -
Net Debt 2021 675 M - -
P/E ratio 2021 -20,0x
Yield 2021 -
Capitalization 2 376 M 2 376 M -
EV / Sales 2020 15,5x
EV / Sales 2021 11,1x
Nbr of Employees -
Free-Float 20,1%
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Managers and Directors
James Riley Group Chief Executive Officer & Director
Matthew Bishop Chief Financial Officer & Director
Benjamin William Keswick Chairman
Monika Nerger Chief Information Officer
Christoph Mares Chief Operating Officer