Added to YB: 2024-05-21
Pitch date: 2024-05-20
M04.SI [bullish]
Mandarin Oriental International Limited
+104.35%
current return
Author Info
Company Info
Mandarin Oriental International Limited engages in the ownership and operation of hotels, resorts, and residences in Asia, Europe, the Middle East, Africa, and the Americas.
Market Cap
$2.4B
Pitch Price
$1.62
Price Target
N/A
Dividend
2.50%
EV/EBITDA
21.11
P/E
-27.93
EV/Sales
5.12
Sector
Hotels, Restaurants and Leisure
Category
value
Mandarin Oriental: Don't Lose Money
M04.SI: Mandarin Oriental valued at $6B (~0.35x NAV). One Causeway Bay site worth $3.8B (rejected offer in '17), over current $2.4B EV. Owned hotel RE $1.8B. Hotel mgmt biz at 12x EBITDA = $636M. 28 new hotels + 16 residences in pipeline to nearly double asset-light mgmt contracts. Low debt, resilient assets at discount. HK property markdown + Singapore listing mitigates US/China/Taiwan risks.
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