Mandarin Oriental International to sell MO Washington D.C for $139m

Mandarin Oriental International has entered into an agreement to sell Mandarin Oriental, Washington, D.C., to Henderson Park for $139 million.  The property will cease to be operated by Mandarin Oriental.

“Over the last 18 years, Mandarin Oriental has positioned this hotel as a market leader in the city.  During this period, however, Mandarin Oriental’s portfolio has developed significantly with many new, unique properties across the world that are more in line with our long-term vision for the brand than this asset.  Today, with our track record in creating market-leading hotels, the group's strategy for expansion is focused on growing the management business with brand-defining properties. With strong interest from investors in this property, the time was right to initiate a sales process which has now been successfully concluded," said James Riley, group chief executive.

“The United States is a key market for Mandarin Oriental.  The group has announced new