“We probably can reach 80 to 100 hotels on our own, but if we want to get to 200, we have to do that through brand acquisitions,” Ettedgui tells Bloomberg. “If a luxury brand becomes available at a reasonable price, we’re interested.”
Asia and South America present the best opportunities for growth, Ettedgui says, adding that interested sellers have approached the hotel chain. As of June, Hong Kong-based Mandarin Oriental had US$563 million in cash on hand, according to Bloomberg. The company prefers to hold majority ownerships in hotels it operates.
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