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Orient Express Hotels shows strong performance in Europe

04 August 2005

A strong performance from Orient Express Hotels' European properties and an increase in American travellers helped profit in the second quarter surge 43% to $18.5m (£10.4m).

With the acquisition of the St Petersburg hotel at the start of the year and strong results from Hotel Cipriani in Venice, turnover in the second quarter increased 20% to $130.5m (£73.4m).

The robust performance across Orient's 49 hotels, restaurant, train and river cruise operations was enough to offset a loss in the traditionally quiet first quarter, and six month profit was up 104% year-on-year to $16.9m (£9.5m).

Turnover for the half year was up 25% year-on-year to $212.7m (£119.7m).

Chairman James Sherwood said: "The US dollar has appreciated recently against most European currencies and this seems to be stimulating US travel to Europe."

Sherwood said the recent terror attacks would have no impact on the company's properties in the UK, which includes Raymond Blanc's Le Manoir Quat' Saisons in Oxfordshire.

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