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Orient-Express Announces Sale of The Observatory Hotel
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Orient-Express Announces Sale of The Observatory Hotel

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1 page
English
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Tout savoir sur nos offres

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Orient-Express Announces Sale of The Observatory Hotel PR Newswire HAMILTON, Bermuda, June 13, 2012 HAMILTON, Bermuda, June 13, 2012 /PRNewswire/ --

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Orient-Express Announces Sale of The
Observatory Hotel
PR Newswire
HAMILTON, Bermuda, June 13, 2012
HAMILTON, Bermuda
,
June 13, 2012
/PRNewswire/ --
Orient-Express Hotels Ltd. (NYSE:OEH, http://www.orient-express.com), owners
or part-owners and managers of 46 luxury hotel, restaurant, tourist train and
river cruise properties operating in 23 countries, today announced that it has
entered into an agreement to sell The Observatory Hotel,
Sydney
, to an
international luxury hotel group. Orient-Express will continue to operate the
hotel until the transaction closes, which is expected to be on
August 8, 2012
.
"It is a key objective of the Company's previously stated long term strategy to
optimize its global portfolio for the purpose of reinvesting capital and improving
its balance sheet. We are pleased to have made such positive progress in this
strategy over the first two quarters of 2012," commented Philip Mengel, Interim
Chief Executive Officer, Orient-Express Hotels Ltd.
"Orient-Express believes in the long term potential of The Observatory Hotel,
but it was not core to the Company's continuing business strategy. It will be
acquired by a world class company that we are confident will make for a
successful owner and employer that is committed to the hotel and its future."
Martin O'Grady
Vice President, Chief Financial Officer
Tel: +44(0)20-3117-1333
E: martin.ogrady@orient-express.com
Vicky Legg
Director, Corporate Communications
Tel: +44(0)20-3117-1380
E: vicky.legg@orient-express.com
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