Property News · October 11, 2018

Excelsior Hotel owner hoping to increase its value by HK$13.7 billion by converting it into an office block


The owner of Hong Kong’s iconic harbour-view Excelsior Hotel expects to boost the asset’s value by about half to HK$41 billion (US$5.2 billion) after converting it into a grade A office tower.
Mandarin Oriental International said it would close the 869-room hotel in March to make way for a 26-storey commercial office building, in what is likely to be a fiercely fought-over future location, given the current shortage of supply and low vacancy levels in Central.
The Excelsior, opened…

Source : South China Morning Post
Read more…Excelsior Hotel owner hoping to increase its value by HK.7 billion by converting it into an office block

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