ALI inks deal to build, manage new Mandarin Manila hotel

Property giant Ayala Land Inc. (ALI) has sealed a deal to build and manage the new Mandarin Oriental Hotel to rise in Makati within the next six years, following a decision by the Mandarin Oriental Hotel Group to close the old one this year.

According to a disclosure posted by the Philippine Stock Exchange on Thursday, AyalaLand Hotels and Resorts Corp., the hotel and leisure arm of ALI, has signed a long-term management agreement with the Mandarin Oriental Hotel Group to develop and operate a new luxury hotel in Makati City.