The year 2024 was marked by a solid financial performance and a clear growth strategy for the Mandarin Oriental Group, which continues to strengthen its position as a leader in luxury hotels.
The brand’s 2024 financial results testify not only to the Group’s resilience in a complex global economic environment, but also to its ability to expand rapidly, both in terms of operational performance and presence in new markets. This review of 2024 is also an opportunity to look to the future, with ambitious objectives and a renewed vision for the years ahead.
Sales up but net profit down
Mandarin Oriental achieved total combined sales of US$2.1 billion in 2024, up 13% on 2023. This performance was underpinned by a 15% increase in hotel management costs, thanks in large part to significant increases in RevPAR (revenue per available room) in all regions where the Group operates: this rose by an average of 7%, reflecting sustained demand and stronger room occupancy.
Operating performance was also robust, with significant gains in several sectors, notably in foodservice revenues, which were up 11% year-on-year.
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Featured photo : © Mandarin Oriental
