Belmond hotel and restaurant group considers sale
Belmond, which will open its first London hotel later this year, said Wednesday (8 August) it has begun a review of “strategic alternatives to enhance shareholder value”.
The company said there was no guarantee it would find a buyer. It has appointed Goldman Sachs and JP Morgan as financial advisors, as well as law firm Weil, Gotshal and Manges to assist with the review.
“We have made meaningful progress toward our long-term strategic goals, including growing earnings, increasing brand awareness, and expanding our global footprint,” said Roland Hernandez, chairman of Belmond’s board of directors.
“We believe that now is the right time to conduct a strategic review process in order to enhance value for shareholders, given Belmond’s truly exceptional and unique collection of iconic owned properties and strong fundamentals in our markets around the world.”
Belmond, formerly Orient Express Hotels, operates 46 luxury hotels, restaurants, and train and river cruises worldwide.
In the UK it owns two Michelin-starred Belmond Le Manoir aux Quat’Saisons, which is run by Raymond Blanc, and the Royal Scotsman and British Pullman railway companies.
Its first London hotel, The Cadogan, will open at the end of the year with chef Adam Handling overseeing the food and beverage.
Belmond is also behind Michelin-starred restaurants Mee in Rio de Janeiro, Oro in Venice, and William in Madeira.
