Mandarin Oriental to Manage New Palace Hotel in Paris

Mandarin Oriental has signed an agreement with Société Foncière Lyonnaise to manage a luxury hotel in Paris, which is planned to open in late 2010. The agreement is conditional on the development of the hotel site receiving city planning approvals, which are currently under negotiation.

The group has signed a long-term lease with SFL, the owner and developer of the property, and has committed approximately US$40 million for furniture, fixtures, equipment and pre-opening costs, which will be invested from 2009 onwards and funded from the group’s cash resources.

Mandarin Oriental, Paris will position itself amongst the palace hotels of the city. Enjoying a pre-eminent address at 247-251 rue Saint Honoré, in the historic and fashionable centre of the city, the hotel will be located within the re-development of a 1930’s art deco building. The ideal location will provide easy access to the city’s finest shopping, dining and cultural venues. The hotel is surrounded by luxury fashion retailers and is a short walk to the Place Vendome. Internationally renowned Jean Michel Wilmotte has been appointed as the project architect.

The hotel will comprise 150 luxurious guestrooms and suites which will be amongst the largest in the city. An expansive inner courtyard will be a prime feature of the property, along with an extensive choice of restaurants, cocktail lounges and bars. Meetings, private parties and other gatherings will be accommodated in elegant banqueting facilities. The Spa at Mandarin Oriental, Paris will offer holistic rejuvenation and relaxation in a tranquil setting. An indoor swimming pool and fully equipped fitness centre will further add to the hotel’s leisure facilities.

“This exciting development promises to provide Paris with an extraordinary new palace hotel, and we look forward to working with Mandarin Oriental on introducing their unique brand and their oriental heritage into the French capital. We are currently working hard to obtain the necessary administrative consents,” said Yves Mansion, Director and Chief Executive Officer of SFL.

Mandarin Oriental has also just signed contracts to manage hotels in Guangzhou and Taipei.

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