Orient-Express Hotels Reports Second Quarter 2012 Results

Orient-Express Hotels Reports Second Quarter 2012 Results PR Newswire HAMILTON, Bermuda, August 1, 2012 HAMILTON, Bermuda, August 1, 2012 /PRNewswire/ -- Same store revenue per available room ("RevPAR") for the quarter up 3% in local currency and down 2% in US dollars Second quarter total revenue before real estate down 2% to $163.8 million from $167.8 million Second quarter revenue from owned hotels down 4% to $130.7 million from $135.6 million Adjusted EBITDA before real estate for the second quarter down 3% to $41.5 million from $42.7 million Adjusted net earnings from continuing operations for the second quarter up to $14.8 million from $10.2 million Opened Palacio Nazarenas, a 55-key all-suite hotel in Cuzco, Peru Entered into agreements to sell The Observatory Hotel in Sydney and The Westcliff in Johannesburg Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com) (the "Company"), owners or part-owners and managers of 46 luxury hotel, restaurant, tourist train and river cruise properties operating in 23 countries, today announced its results for the second quarter ended June 30, 2012. "We have experienced a challenging second quarter," said Philip Mengel, Director and Interim Chief Executive Officer. "The continued economic uncertainty in the Eurozone has affected demand for luxury travel from European sources, and the weakening of the euro and other currencies against the dollar has reduced the dollar value of our revenues.