Hamilton, Bermuda-based Belmond Ltd. has initiated a comprehensive review of strategic alternatives to enhance shareholder value including a possible sale, according to chairman Roland Hernandez. The company owns and manages 46 luxury hotels, restaurants, train and river cruise properties across 24 countries, including the Belmond Andean Explorer, which won a 2017 Gold Key Award for Excellence in Hospitality Design. “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,” Hernandez said in a statement. “We have made meaningful progress toward our long-term strategic goals, including growing earnings, increasing brand awareness, and expanding our global footprint. We believe that now is the right time to conduct a strategic review process in order to enhance value for shareholders, given Belmond’s truly exceptional and unique collection of iconic owned properties and strong fundamentals in our markets around the world.”
Belmond, formerly known as Orient-Express Hotels Ltd. and so renamed in 2014, was founded in 1976 with the acquisition of the iconic Belmond Hotel Cipriani in Venice. The group now has properties across the Americas, Europe, Africa and Asia.
Photo: Courtesy of Belmond Andean Explorer