Orient-Express Hotels Ltd. Comments on Third Party Owner Repossession of Ubud Hanging Gardens, Bali
HAMILTON, Bermuda - November 18, 2013 - Orient-Express Hotels Ltd. (NYSE: OEH, www.orient-express.com) (the "Company"), owners, part-owners or managers of 45 luxury hotel, restaurant, tourist train and river cruise properties operating in 22 countries, today announced that following an unannounced repossession by the third party owner of Ubud Hanging Gardens in Bali, Indonesia, on November 11, 2013, the Company is unable to continue to operate the hotel. Accordingly, in order to prevent any confusion to its guests, the Company has ceased reference to the property in its sales and marketing materials, including all electronic marketing, until further notice.
The Company believes that this action by the owner is unlawful and constitutes a wrongful, and potentially criminal, repossession of the hotel and is a flagrant breach of its long-term lease arrangement, which continues to August 2038. Orient-Express Hotels Ltd. is in consultation with its advisors with regard to the steps it plans to take to vigorously protect the interests of the Company, as well as its clients and staff.
About Orient-Express Hotels Ltd.
Orient-Express Hotels Ltd. is a luxury hotel company and sophisticated adventure travel operator which seeks to deliver memorable experiences that are the ultimate expression of each destination's authentic culture. The Company has offered exceptional luxury travel experiences since 1976, when it purchased Hotel Cipriani in Venice and then shortly thereafter recreated the celebrated Venice Simplon-Orient-Express, linking London, Paris and Venice, along with other European cities. Today Orient-Express Hotels Ltd. embraces 45 hotel, cruise and luxury rail businesses in 22 countries, including distinctive properties such as Hotel Cipriani in Venice, Grand Hotel Europe in St Petersburg, Hotel Ritz Madrid, Mount Nelson Hotel in Cape Town, Copacabana Palace in Rio de Janeiro and Maroma Resort and Spa on Mexico's Riviera Maya. The Company also operates six luxury tourist trains, three river cruise operations and '21', one of New York's most iconic restaurants. www.orient-express.com
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