Strengthened Management Structure at Orient-Express HotelsSeptember 16th, 2009 HAMILTON, Bermuda - Orient-Express Hotels Ltd. (NYSE: OEH) (www.orient-express.com), owners or part-owners and managers of 50 luxury hotel, restaurant, tourist train and river cruise properties operating in 25 countries, today announced changes to its management structure, designed to strengthen the senior team to serve the needs of the business going forward.
Orient-Express Hotels Reports Second Quarter 2009 ResultsAugust 4th, 2009 HAMILTON, Bermuda -
Second Quarter 2009 Earnings Summary - Second quarter total revenues, excluding Real Estate, of $132.0 million - Same store RevPAR down 24% in local currency, 33% in US dollars - Adjusted EBITDA before Real Estate of $26.7 million Key Events - Raised $141.3 million of cash in common share offering in May 2009 primarily for debt reduction - Completed sale of Lapa Palace for $42.0 million (EUR29.4 million), or 22x 2008 EBITDA - Entered into sale agreement for Windsor Court Hotel - Entered into agreement with the New York Public Library to spread future payments over 24 months - Same store revenue drop offset by 54% through fixed and variable overhead savings - Completed $16 million re-financing of Australian properties - Implemented launch of corporate brand strategy, including new website - Obtained tangible net worth covenant waivers on two facilities referenced in 2008 Form 10-K
Orient-Express Hotels Ltd. (NYSE: OEH, www.orient-express.com), owners or part-owners and managers of 50 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today announced its results for the second quarter ended June 30, 2009.
Orient-Express Hotels Ltd. Second Quarter 2009 News Release and Conference CallJuly 8th, 2009 HAMILTON, Bermuda - Orient-Express Hotels Ltd. (NYSE: OEH) (www.orient-express.com) will release its second quarter earnings on Wednesday August 5, 2009 after the market closes and will host a conference call for the investment community on Thursday August 6, 2009 at 10.00 am ET (15.00 BST).
Mitchell C. Hochberg Appointed to the Board of Orient-Express Hotels Ltd.June 14th, 2009 HAMILTON, Bermuda - Orient-Express Hotels Ltd. (NYSE: OEH) (www.orient-express.com), owners and operators of 50 deluxe leisure properties in 25 countries, today announced that Mitchell C.
James Park Associates Interiors Unveiled as The Pierre, New York ReopensJune 7th, 2009 LONDON and SINGAPORE - The Pierre, New York's Iconic Fifth Avenue Hotel Which has Just Reopened,has Unveiled Stunning New Guestrooms and Suites Designed by James Park Associates (JPA). The London and Singapore-based design consultants were appointed by The Pierre's operators, Taj Hotels Resorts and Palaces, to create concepts for nine unique grand suites and themed suites, together with deluxe guestrooms, covering more than 60 different configurations.
Orient-Express Hotels Sells Lapa Palace Hotel, LisbonJune 1st, 2009 HAMILTON, Bermuda - Orient-Express Hotels Ltd. (NYSE: OEH, www.orient-express.com), owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today confirmed that it has sold its Lisbon hotel, Lapa Palace, to a private Portuguese investor for EUR29.4 million, ($41.8 million).
Orient-Express Hotels Reports First Quarter 2009 ResultsMay 5th, 2009 HAMILTON, Bermuda - First Quarter 2009 Earnings Summary
- First quarter total revenues, excluding real estate, of $91.0 million, down $24.9 million over prior year - Same store RevPAR down 18% in local currency, 26% in US dollars - Adjusted EBITDA before Real Estate of $9.9 million, down $7.0 million over prior year - First quarter net loss from continuing operations of $13.6 million - EPS loss from continuing operations of $0.27 per common share Key Events - Raised $141.3 million of cash in common share offering primarily for debt reduction - Closed on new $30 million secured construction loan to complete Porto Cupecoy - Sold a total of 11 additional residences at Porto Cupecoy during 1Q 09 - Reduced impact of revenue decline on EBITDA by 72% through fixed and variable cost savings - Agreed in principle resolution of tangible net worth covenants on two facilities referenced in 2008 Form 10-K - Received deposit and signed Memorandum of Understanding for sale of a European hotel and Letter of Intent signed on a second property - Enhanced corporate brand strategy - In discussions to amend agreements with the New York Public Library
Orient-Express Hotels Ltd. (NYSE: OEH, www.orient-express.com), owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries today announced its results for the first quarter ended March 31, 2009.
Orient-Express Hotels Reports Preliminary First Quarter 2009 RevPAR, Revenue, EBITDA and Net Earnings ResultsApril 26th, 2009 HAMILTON, Bermuda - Orient-Express Hotels Ltd. (NYSE: OEH, www.orient-express.com), owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today announced preliminary RevPAR, revenue, EBITDA and net earnings results for the first quarter ended March 31, 2009.
Orient-Express Hotels Announces Common Share OfferingApril 26th, 2009 HAMILTON, Bermuda - Orient-Express Hotels Ltd. (NYSE: OEH, www.orient-express.com), owners or part-owners and managers of 51 luxury hotels, restaurants, tourist trains and river cruise properties operating in 25 countries, today announced that it plans to sell 15,000,000 shares of newly issued Class A common shares, par value $.01 per share, in an underwritten public offering pursuant to its effective shelf registration statement previously filed with the Securities and Exchange Commission.
Orient-Express Hotels Ltd. First Quarter 2009 News Release and Conference CallApril 16th, 2009 HAMILTON, Bermuda - Orient-Express Hotels Ltd. (NYSE: OEH, www.orient-express.com) will release its first quarter earnings on Wednesday May 6, 2009 after the market closes and will host a conference call for the investment community on Thursday May 7, 2009 at 10.00 am ET (15.00 BST).