COMMERCIAL PROPERTY | Staff Reporter, Hong Kong

Mandarin Oriental mulls over selling Excelsior hotel in Hong Kong

The hotel's worth could amount up to $34b.

The South China Morning Post reported that the hotel operator said it decided to test market interest in a possible sale, according to a Monday statement. Shares of Mandarin Oriental rose 19 per cent in two days in Singapore to S$1.785 (HK$10.07).

Built on Plot 1, the very first land parcel sold after Hong Kong became a British colony in 1841, the site was originally a warehouse of the British conglomerate Jardine Matheson, located on Gloucester Road across the Royal Hong Kong Yacht Club, around the corner from Victoria Park.

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