Mandarin Oriental International has reported a higher revenue per available room (RevPAR) in all regions for 1Q2025 compared to the year before, and an overall higher underlying profit for the quarter y-o-y.

The group’s management business drove higher hotel management fee income from strong hotel RevPARs, while the owned hotels business particularly in Hong Kong generated higher profitability than the prior year.

This offset the absence of earnings from Paris following the disposal of the hotel property in 2024.

The group has US$462 million ($599.61 million) headroom in available committed debt facilities, and US$178 million of cash reserves.

Gearing was 3% of adjusted shareholders’ funds, slightly higher than 2% as at the end of last year.

In its interim management statement for the first quarter 2025, the group said that it announced two new hotel and residences management agreements — a resort with residences in Puerto Rico and a luxury hotel in Suzhou, China.

The group also opened its second property in Paris in April, and took over the management of The Conservatorium Hotel in Amsterdam.

The group’s One Causeway Bay mixed-used commercial redevelopment in Hong Kong is on track to be completed in the second half of the year.

Shares in Mandarin Oriental Internationalclosed 1 cent higher or 0.549% up at $1.83 on May 15.