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Orient Express buys Pansea group
Orient-Express Hotels is to acquire Hong Kong-based Pansea hotels group for US$25 million.
The purchase will be completed within the next four weeks and will bring major expansion of the group’s business in South East Asia.
Pansea has six properties including La Residence Phou Vao in Laos, The Napasai in Koh Samui and the Jimbaran Puri in Bali.
In total, 271 rooms will be added to the Orient Express portfolio.
Orient-Express Hotels intends to retain the Pansea management team at its head office in Bangkok and at the six hotels.
Longer term, it plans to add more properties in Singapore, Hong Kong, Vietnam and China.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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