Property News · September 27, 2017

Mandarin Oriental pulls sale of Hong Kong’s Excelsior Hotel after bids failed to meet expectations


Mandarin Oriental International has decided to withdraw the disposal of its iconic hotel Excelsior in Causeway Bay, after the bidders failed to submit a proposal that met expectations and transaction requirements.
The hotel operator said on Wednesday morning that none of the bids had met fully its expectations and it would consider a review of all options including those that may result in redevelopment of the property into a commercial building.
The withdrawal came as mainland Chinese…

Source : South China Morning Post
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