Aircraft manufacturer Natilus wants to build a new type of airliner to rival Airbus and Boeing as the industry demands more efficient planes.
07.10.2024 - 19:21 / skift.com / Sean Oneill
A year ago, Mandarin Oriental appointed Laurent Kleitman as Group CEO. Now, the venerable luxury hotel brand is poised for what it hopes will be accelerated growth — without sacrificing the attention to detail that has made it a favorite among the global elite.
Today, Mandarin Oriental manages 41 hotels, a number Kleitman intends to double. “There is room for more,” he asserts, envisioning a “sweet spot” of “80 to 100 properties.”
Kleitman has a pedigree in luxury goods, with previous roles at LVMH’s Perfumes Christian Dior and Coty. “I’ve discovered a world of experiential luxury,” he said to Skift in his first major interview as CEO. “Experience is what will define luxury in the future.”
When asked about Mandarin Oriental’s brand DNA, the Hong Kong-based executive recounts when he and his family were guests at the brand’s Bangkok property restaurant more than two decades ago. It was a simple act — the discreet laundering and pressing of his young son’s stained shirt after the boy had spilled tomato sauce on it during dinner — that wowed him.
“It stayed with me forever as an exceptional level of service delivery, an exceptional level of guest centricity.”
Kleitman framed this anecdote as both origin story and mission statement for his tenure at Mandarin Oriental. His strategy is threefold: elevate the brand, accelerate portfolio growth, and drive innovation.
Mandarin Oriental is 80% owned by Jardine Matheson Group — a Global Fortune 500 conglomerate whose largest shareholder is the Keswick family.
“Jardine Matheson Group and the Keswick family [are] very, very supportive and extremely keen to see how we can realize more growth from luxury hospitality,” Kleitman said.
In the first half of the year, Mandarin Oriental generated $23 million in profit — about the same as a year earlier on an adjusted basis.
The company has been slowly in selling the hotels it owns. It made $216 million on a Paris hotel this year and $77 million on a Jakarta property in 2023. The asset shedding has helped reduce pandemic-related debt. The company halved its debt to $110 million during 12 months through June.
Kleitman insists that property growth will be strategic, focusing on key markets where the brand lacks presence — without becoming commonplace.
“It’s like in consumer goods — if you’re not distributed, you’re not seen,” Kleitman said. “We open next year in Vienna, we’ve signed Budapest, we’re going to be in Rome soon. If you’re not present in those very important hubs for luxury and tourism, you’re not part of the game.”
Some experts warn that when ultra-luxury brands expand, they dilute the quality of their bespoke services. The average size of ultra-luxury hotel brands is about 25 properties.
Yet Kleitman is adamant
Aircraft manufacturer Natilus wants to build a new type of airliner to rival Airbus and Boeing as the industry demands more efficient planes.
Waiting for your flight in Terminal B at Newark Liberty International Airport (EWR) isn't exactly too inspiring.
If you're looking for a true breath of fresh air in the most literal sense, the pros at QR Code Generator have a new study you're going to want to see. In September, the team unveiled the findings of its newest study, which showed which U.S. and European destinations have the lowest pollution rates, offering the cleanest air possible for travelers and locals alike.
New York City's luxury hotel scene just keeps getting better. And next spring, the city will welcome one of the trendiest hotel brands of them all: Faena.
If all goes according to plan, Newark Liberty International Airport (EWR) may soon go from worst to first in nationwide rankings.
A presidential campaign. A hurricane. A cult-favorite cabbage slaw.
One of the challenges of living in a prominent transit hub like New York City can be navigating your way to and from its airports.
Delta Air Lines officially has two business-class-only lounges open after cutting the ribbon last week on its dazzling 10,000-square-foot Delta One Lounge inside Terminal 3 at Los Angeles International Airport (LAX).
Delta Air Lines will launch two new overseas routes in 2025. One will take passengers to Europe and the other to Asia.
Construction is well underway on Brightline West's high-speed rail line that's expected to link Las Vegas with Southern California by 2028. Now, the private intercity rail operator is offering a glimpse inside the cars of its future trainsets.
Riyadh Air CEO Tony Douglas is confident that the startup — which is positioning itself as Saudi Arabia's elite answer to the big Gulf carriers — will take to the skies next year.
When Delta Air Lines opened its luxurious Delta One Lounge at New York City's John F. Kennedy International Airport (JFK) this summer, it was a new chapter for an airline that prides itself on delivering travelers a premium experience.