Mandarin Oriental may buy more brands - CEO
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Mandarin Oriental International Ltd may buy more brands as lodging companies struggle amid a decline in spending, Bloomberg has reported the company’s CEO, Edouard Ettedgui, as saying. The company currently operates 25 luxury hotels across the world, but Ettedgui told an interview at the opening of the new Mandarin Oriental in Las Vegas that they would have to make acquisitions if they were to significantly increase their portfolio.
“We probably can reach 80 to 100 hotels on our own, but if we want to get to 200, we have to do that through brand acquisitions,” Ettedgui was reported saying. “If a luxury brand becomes available at a reasonable price, we’re interested.”
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