Orient-Express tipped as next takeover target

09 July 2007 by
Orient-Express tipped as next takeover target

Orient-Express Hotels has been tipped as the next hotel group to attract the interest of private equity.

An unnamed American hedge fund, Starwood Capital, which has a 4% stake, US buyout firm Blackstone and investment bank Morgan Stanley are thought to have looked at the business, reports The Times.

There has been speculation about the future of a number of hotel groups following Blackstone's £10b bid for Hilton Hotels Corporation last week.

InterContinental, Starwood Hotels & Resorts and Marriott International have all been put in the frame, and now Orient-Express Hotels has been added to the list.

The group, which owns or runs 39 of the world's best-known hotels, including Le Manoir aux Quat' Saisons, in Oxfordshire and the Cipriani, Venice, has been seen as vulnerable to a bid since the resignations in quick succession of its chairman, chief executive and chief financial officer.

Only the chairman's post has been filled, although a new chief executive could be named within weeks.

The Times suggested that luxury hotel operator Von Essen is keen to buy Orient-Express's European properties and has been talking to financial institutions about a joint approach.

Orient-Express Hotels loses third executive in six months >>

Simon Sherwood quits role as CEO of Orient Express Hotels >>

Orient-Express Hotels put on the market >>

Von Essen hotels completes latest hotel acquisition >>

Von Essen company profile >>

By Daniel Thomas

E-mail your comments to Daniel Thomas](mailto:daniel.thomas@rbi.co.uk?subject=Orient-Express hotels tipped as next takeover target) here.

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