Multiple Potential Buyers for Belmond Hotels

Date: October 2018

Location: Global

Name: 45 Belmond Hotels

The Cipriani Venice, the jewel in the crown of Belmond Hotels

No. of Keys: 3,001

Seller: Belmond Hotels

Potential Buyer: Everyone and his Uncle…Confirmed – Blackstone, Hilton, Hyatt and others

The Belmond Ltd hotel group (formerly known as Orient Express Hotels) is attracting the interest of many players, including other hoteliers.

In August 2018, they indicated that they were working with Goldman Sachs Group Inc. and JPMorgan Chase & Co to evaluate a sale. Belmond’s market value is estimated at around $1.8 billion.

Since then, KSL Capital Partners, Blackstone, KKR & Co., Ashkenazy Acquisition Corp., Hyatt Hotels Corp. and Hilton Worldwide Holdings Inc. have declared their interest in this purchase.

According to Hospitality On’s world ranking of luxury brands, Belmond is 25th in terms of supply. If Hilton acquires the British group, it would have more than 23,000 rooms in the luxury segment with its two other brands: Conrad and Waldorf Astoria. If Hyatt buys Belmond, it would operate almost 10,000 rooms in the luxury segment with its Park Hyatt brand.

THPT Comment: Although Belmond changed their company name, Accor owns the brand Orient-Express Hotels! Some real prize assets in the portfolio.

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