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Belmond seeking a buyer
Luxury hotel, rail and cruise operator Belmond could soon be changing hands.
The company announced it is mulling a potential sale of the business, which saw its stock price jump more than 18%
It has hired legal and financial advisors including Goldman Sachs and JPMorgan to assist in a strategic review which could end up in a sale.
"We have made meaningful progress toward our long-term strategic goals, including growing earnings, increasing brand awareness, and expanding our global footprint," said Roland Hernandez, board chairman.
"We believe that now is the right time to conduct a strategic review process in order to enhance value for shareholders."
Belmond operates a host of iconic hotels worldwide from the Americas to Asia, as well as luxury trains, river cruise vessels, safaris and other travel experiences.
It is unclear whether it is looking to sell the entire business or offload specific assets.
Some of its most prestigious properties include the Belmond Hotel Cipriani, Venice, the Belmond Copacabana Palace, Rio de Janeiro and luxury train Eastern & Oriental Express which connects Thailand to Singapore via Malaysia.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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