Luxury group Belmond is considering a sale of its portfolio of 46 hotel, restaurant, train and river cruise businesses.
The company, which owns Belmond Le Manoir aux Quat’Saisons in Great Milton, Oxfordshire, has appointed Goldman Sachs and JP Morgan as financial advisors, alongside Weil, Gotshal & Manges as legal advisor to help carry out a review.
Roland Hernandez, chairman of Belmond’s board of directors, said that the time is now right for the company to look at “the full range of strategic, operational and financial alternatives”, including “a possible sale” in order to enhance value for the shareholder.
He added: “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.”
The Bermuda-based company does not intend to make any further public comment regarding the review until it has been completed.
Belmond shares immediately increased by nearly 19% in after-hours trading following the announcement of the news, Travel Weekly’s sister publication The Caterer reported.
Other hotels in Belmond’s global portfolio include the Belmond Hotel Cipriani in Venice and the Belmond Hotel Splendido in Portofino.
Belmond will open its second UK hotel, the 54-room Belmond Cadogan in Chelsea, London, later this year.
Belmond Le Manoir aux Quat’Saisons was named the UK’s favourite hotel by operators in the Hoteliers’ Hotels 2018 Top 100 list last month.
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