Following higher RevPARS in 3QFY2024, the group’s management business recorded higher management fee income and profitability, excluding residence branding fees.
In its interim management statement for the 3QFY2024, Mandarin Oriental International (SGX:M04
) has reported a slightly lower underlying profit as compared to the same period last year. This came on the back of lower branding fees.
For the same quarter, the group’s revenue per available room (RevPAR) saw a y-o-y increase across all regions. The group says rates and occupancy in Asia were driven by strong intra-regional demand, while almost all hotels across Europe, the Middle East and Africa, saw “solid improvements” in RevPAR.
