Mandarin Oriental Hotel Group is an international hotel investment and management group with deluxe and first class hotels, resorts and residences in sought-after destinations around the world. The Group now operates, or has under development, 41 hotels representing over 10,000 rooms in 26 countries, with 18 hotels in Asia, 12 in The Americas and 11 in Europe and the Middle East. In addition, the Group operates, or has under development, 12 Residences at Mandarin Oriental connected to its properties. The Group has equity interests in a number of its properties and net assets worth approximately USD 2.3 billion as at 30th June 2011. The portfolio includes our original flagship properties, the acclaimed Mandarin Oriental, Hong Kong and Mandarin Oriental, Bangkok. Our other deluxe hotels are located in prime destinations worldwide, from London and New York, to San Francisco and Singapore. Our aim is to be recognized widely as the best global luxury hotel group, providing 21st century luxury with oriental charm in each of its hotels. This will be achieved by investing in the Group’s exceptional facilities and its people, while maximizing profitability and long-term shareholder value. The strategy of the Group is to open the hotels currently under development, while continuing to seek further selective opportunities for expansion around the world.