Luxury group Belmond has announced that it is considering a sale of its portfolio of 46 hotel, restaurant, train and river cruise businesses.
The company, which owns Belmond Le Manoir aux Quat’Saisons in Great Milton, Oxfordshire, has appointed Goldman Sachs and JP Morgan as financial advisors, alongside Weil, Gotshal & Manges as legal advisor to help carry out a review.
Roland Hernandez, chairman of Belmond’s board of directors, said that the time is now right for the company to look at “the full range of strategic, operational and financial alternatives”, including “a possible sale” in order to enhance value for the shareholder. Shares in the business immediately increased by nearly 19% in after-hours trading following the announcement of the news.
Hernandez added that Belmond offered a “truly exceptional and unique collection of iconic owned properties and strong fundamentals in our markets around the world”.
Other hotels in Belmond’s global portfolio include the Belmond Hotel Cipriani in Venice and the Belmond Hotel Splendido in Portofino. Later this year, Belmond will open its second UK hotel, the 54-bedroom Belmond Cadogan in Chelsea, London.
Belmond Le Manoir aux Quat’Saisons was named the UK’s favourite hotel by operators in the Hoteliers’ Hotels 2018 Top 100 list last month.