Hong Kong's Mandarin Oriental will close on December 28, 2005 and will re-open in late August 2006, with the renovation of the public areas and approximately 200 guestrooms complete.

During the closure period, employees will be offered opportunities for training and personal development. Some will transfer to other hotels within the group while others will be seconded to work at sister companies within the Jardine Matheson Group in Hong Kong.

The hotel closure will inevitably dampen the group’s results in 2006, although the loss of profit is expected to be offset in part by the increasing contribution from the group’s new properties.

The renovation programme, which has been enhanced to ensure a significant re-positioning of the group’s flagship property, will cost an estimated US$140 million.

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