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Orient-Express refuses purchasing offer of 1.2 billion euros

 

The Orient Express board refused the public purchasing offer of the Charme Investments fund of Montezemolo and the group falling under The Indian Hotels. This one holds a 6.9% share of the tourist-hotel society of Cipriani In Venice, Villa San Michele in Florence, Splendido of Portofino and Caruso of Ravello. The amount of 1.2 billion euros was considered insufficient and the news caused a 10% decrease in the Orient Express stock at the Nyse.

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35 million euros on the way for Orient Express hotels in Taormina

 

After the 2010 operation, which was destined to refund loans to the benefit of Hotel Cipriani of Venice, Hotel Caruso of Ravello, Villa San Michele in Florence and Hotel Splendido & Splendido Mare in Portofino, the credit line to the Orient-Express Hotels Ltd group has been increased of 35 million euros to refund also the two Sicilian hotels of the group: Grand Hotel Timeo and Villa Sant'Andrea.

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Orient Express Hotels starts a franchise development program

 

Orient-Express Hotels owns or invested in 45 hotels, restaurants, itineraries on railroads and river cruises in 22 countries of the world. It launched the Orient-Express Associate Hotels program, which is dedicated to independent luxury hotels. The first hotel to join the network is the Hôtel du Palais of Biarritz.

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