Mandarin Oriental reverses to full-year net loss of US$55.5m

Singapore

DUAL-LISTED hotelier Mandarin Oriental's underlying net profit - which excludes non-trading items - tumbled 37 per cent to US$41.2 million for fiscal 2019, down from US$64.9 million a year earlier.

This came as the combined revenue of hotels under its management slipped 5 per cent to US$1.33 billion from US$1.4 billion in 2018.