The Mandarin Oriental Group will push ahead with its US$650 million plan to redevelop The Excelsior Hotel building in Hong Kong into a Grade A office tower, even as it holds out the possibility that it could still find a buyer for the iconic waterfront building.
Mandarin had called off an earlier sale, first announced in June 2017, after receiving lacklustre offers that failed to meet expectations, after valuers had forecast the property to fetch more than HK$30 billion (US$3.8 billion)….
Source : South China Morning Post
Read more…Hong Kong’s Excelsior Hotel can still be bought for the right price, says Mandarin Oriental CEO















