ASIA Travel

Mandarin Oriental Completes Purchase of Property on Rue St Honore, Paris

Search ASIA Travel Tips .com Send to Friend ASIA Travel Latest Travel News Friday, 15 February 2013

Mandarin Oriental has completed the purchase of the freehold interest in the building housing Mandarin Oriental, Paris and two prime street front retail units from Société Foncière Lyonnaise for €290 million (US$388.9 million).

The transaction was partly funded by new five-year €150 million (US$201.1 million) debt facilities, with the balance from the group’s cash reserves.

Edouard Ettedgui, Mandarin Oriental Hotel Group Chief Executive, said, “This transaction has provided our group with a rare opportunity to own a prime piece of real estate in a key gateway city which is an important destination for our luxury brand. The acquisition is expected to be earnings enhancing and to bring a number of additional benefits including single ownership and the opportunity for future expansion for the hotel.”

The property is located on the prestigious Rue St Honoré, within walking distance of the city’s famous cultural attractions and world class retail.

The property has a net lettable floor area of approximately 17,400 sq. m., and had rental income of €10.7 million (US$14.3 million) for the 12 months ended 31 December 2012.

See other recent news regarding: Interviews, Pictures, Videos, Mandarin Oriental, France, Paris

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address above, or return to the Latest Travel News Asia main page to see all the latest headlines. You can also stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
Aviation Industry Update at AAPA 2015 in Bali.  Andrew Herdman is the Director General of the Association of Asia Pacific Airlines (AAPA) and this is the presentation he gave to a few select aviation journalists at The Ritz-Carlton, Bali on 12 November the day before the General Assembly of Presidents. Exclusive HD video interview with Ms. Titiya Chooto, General Manager of Anantara Siam Hotel (formerly the Four Seasons Hotel Bangkok). Exclusive HD video interview with the General Manager of the JW Marriott Hotel Macau, Mr. Brian Tong.
Aviation Industry Update Anantara Siam Bangkok JW Marriott Macau
Exclusive HD video interview with Julio Alonso, Director for Asia, Wines of Chile. Exclusive HD video interview with Mr Wayne Mak, Managing Director of Rhombus International Hotels Group Exclusive HD video interview with Mr. Jonathan Wigley, Founder and CEO of one of Thailand's most successful hotel management and ownership companies.
Wines of Chile - Julio Alonso Rhombus Int. Hotels Group Absolute Hotel Services
A very brief glimpse into one woman's amazing journey sailing from California to Terengganu in Malaysia Exclusive HD video interview with Ms. Ina Israel of Coco Beach Island Resort in Puerto Galera, Philippines Exclusive HD video with Ms. Kanyarat Tantiviwat (Tarn), Director of Sales at The Haven Khao Lak Resort in Thailand
Sailing from California to Malaysia Coco Beach Island Resort The Haven, Khao Lak
Exclusive HD video interview with Tin Kyi Min @ Yin Mon Oo, Director of Business Development of Mann Yadanarpon Airlines of Myanmar. Exclusive HD video interview with Executive Chef Hirofumi Imamura. The interview was filmed during the 16th World Gourmet Festival on 10 September 2015 at the Anantara Siam Bangkok Hotel (formerly the Four Seasons, Bangkok). Exclusive HD video interview with Art P. Boncato JR., Assistant Secretary of Tourism Regulation, Coordination and Resource Generation (TRCRG) at the Department of Tourism of Philippines
Mann Yadanarpon Airlines Chef Hirofumi Imamura in Bangkok Philippines Tourism
An exclusive HD video interview about the elegant Airbus A350 XWB with David Velupillai, Marketing Director for Airbus Corporate Jets at Singapore Airshow 2014 Exclusive HD video interview with Ms. Myat Myat Tun, Deputy Director (Reservation/Ticketing & Interline) Commercial of Air Bagan in Myanmar ATR Demonstrates 72-600 Flight Simulator During Singapore Airshow 2014
Airbus A350 Air Bagan (Myanmar) ATR Simulator
Inside Qatar Airways Boeing 787-8 Dreamliner - HD Video It takes 800 workers between 65 and 80 days to assemble, install, test, paint, furnish and deliver an Emirates Airbus A380. Showers, Bars, Lounge - The Emirates Airbus A380 Has Them All - HD Video Tour Thai Airways International Takes Delivery of Brand New Boeing 777-300ER
Qatar Airways B787 Emirates A380 Thai Airways B777-300ER
  • sample ad size - contact us to advertise here
Latest Travel News
© Copyright 1997 - 2015 - ASIA Travel - All rights reserved.