SINGAPORE (Sept 15): Mandarin Oriental International says it has received proposals from potential purchasers to acquire the group’s The Excelsior hotel in Hong Kong.

In a filing to SGX after market close on Friday, Mandarin Oriental says these proposals will form the basis for further consideration of its strategic options. It stressed that no assumptions should be made at this point on whether the property will be sold.

The announcement today comes after the group in June said it was undertaking a review of its long-term strategic options with regard to The Excelsior – the only four star hotel in its chain of some 30 five star luxury properties.

As part of the review, Mandarin Oriental had included the testing of market interest in the possible sale of the property.

The Mandarin Oriental Hotel Group earlier this week announced that it will manage a luxury hotel project Beijing, which is expected to open in 2018.

Mandarin Oriental Qianmen, Beijing is located within the Qianmen East Hutong Quarter, and close to major attractions such as Tiananmen Square and the Forbidden City.

This story, written by Stanislaus Jude Chan, first appeared on The Edge Singapore.