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Will the Orient-Express hotels in Cusco keep their names? In three weeks we'll know for sure
This news appeared in our inbox this weekend from an unknown source and we weren’t sure whether it was fact or fiction. Orient-Express Hotels up for sale? Really? Trouble in paradise?
Add the news that the unsolicited all cash offer from Tata Group’s Indian Hotels of $12.63 Per Share (a 40% premium on that day’s closing share price), was a tad on the bold side and we were even more uneasy--why go so high? Yet that would mean a cool $1.86 billion sale for Orient-Express. At least they're getting a higher bid, unlike the discount Jetsetter.com had to offer for its company sale.
Subsequent news briefs confirmed the proposal was definitely real, bold, and that U.S.-listed Orient-Express Hotels Ltd., while in $615.6 million debt wasn't seeking bailout. However, in a statement the company said it will evaluate the proposal carefully and respond in due course in accordance with the best interests of the Orient-Express Hotels Ltd. and its shareholders.