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10 Aug 2018

BY Gary Noakes

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TRFBLI

Belmond mulls sale amid buoyant 2018

Luxury hotel brand Belmond looks likely to spark a battle among potential investors after confirming it is exploring options including a sale.

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Belmond opens the doors to potential bidders

Belmond operates 36 hotels, 30 of which are wholly owned. Another five are partly owned and those in Peru run via a joint venture.

 

They include iconic names such as the Belmond Hotel Cipriani in Venice, Le Manoir aux Quat’Saisons in Oxford and the ‘21’ Club restaurant in New York. Belmond’s portfolio also boasts seven trains, including the Venice Simplon-Orient-Express, and two river cruisers.

 

TTG understands Belmond was exploring options for a sale ahead of expected calendar year profits of $140-150 million, an increase of 13-21%, which will mean 2018 will be one of the brand’s strongest on record.

 

The company also has around 50 hotel deals in the pipeline. Of these, 20 are thought to be active and seven are at the advanced, exclusive stage.

 

Belmond is likely to attract interest from venture capitalists, which are keen to invest in travel, particularly in the expanding luxury market. The company is headquartered in London but listed on the New York stock exchange and registered in Bermuda. It operates in 24 countries and is growing its global presence.

 

Belmond has engaged bankers Goldman Sachs and J.P. Morgan as strategic advisors. Roland Hernandez, chairman of the board of directors, said: "The board is committed to pursuing a path that is in the best interests of all Belmond shareholders.

 

"Accordingly, we are conducting a robust review of the full range of strategic, operational and financial alternatives available to the company, including a possible sale."

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TTG Media Limited.
Place of registration: England and Wales.
Company number 08723341.
Registered address: New Bridge Street House, 30-34 New Bridge Street, London EC4V 6BJ
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