General photos of the Excelsior Hotel in Causeway Bay. Photo: SCMP/Dickson Lee

Mandarin Oriental shares plunge after lacklustre bids push its sale of Excelsior hotel off the market

Hotel operator withdrew the sale, valued at HK$30 billion, after bids failed to meet its expectations.

Topic |   Luxury Hotels

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General photos of the Excelsior Hotel in Causeway Bay. Photo: SCMP/Dickson Lee
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Peggy Sito

Peggy Sito

Peggy Sito is the deputy business editor at the Post. She was previously editor on the property desk and has won various news awards from the Hong Kong Consumer Council, the Newspaper Society of Hong Kong and the Society of Publishers in Asia.

Summer Zhen

Summer Zhen

Summer Zhen is a business reporter covering the property markets in mainland China and Hong Kong as well as cross-border investments and the financial markets. Born in Shanghai, she holds a master's degree in Journalism from the University of Hong Kong and is a graduate of Waseda University in Japan. She has also studied in the US. A winner in the "Best Young Reporter" category at the 2014 Hong Kong News Awards, Summer previously worked for Phoenix TV and Ming Pao.