| LONDON, UK (July 10, 2006) - Orient-Express Hotels has announced a
major expansion of its business in South East Asia with the acquisition
of the Pansea hotels group from HOSIA, for approximately US$25 million.
The transaction will be completed within the next four weeks, in advance
of the high season, which starts in August.
Orient-Express Hotels� relationship with Pansea dates back to 2004 when
Orient-Express invested funds to assist HOSIA with the development of the
business. The deal allowed for Orient-Express Hotels to acquire 100 per
cent of Pansea after five years, in 2009.
There are six Pansea Orient-Express hotels.
La Résidence Phou Vao is five minutes from the
center of Luang Prabang, Laos, which is a World Heritage site. The hotel
is set on a hill overlooking the sacred Mount Phou Si and the golden dome
of the Vat Chamsi Stupa. It has 32 spacious rooms, two suites and an eye
level infinity pool overlooked by an attractive restaurant and surrounded
by seven acres of lush gardens. The hotel, which features Laos� first purpose
built spa, is well positioned for visits to the Royal Palace, ancient temples,
the caves of Pak Ou on the Mekong river and the 300 year-old weaving village
of Ban Phanom.
La Résidence d�Angkor is in the center of Siem Reap, Cambodia,
on the river. It is the perfect location from which to explore the
spectacular temples of Angkor Wat and the awe-inspiring World Heritage
surroundings, just ten minutes from the property. Built in Khmer style,
the hotel has 54 spacious rooms and one suite with a romantic, Cambodian
character. Lying within a walled garden and accessed by a bridge over a
lotus pond, La Résidence d�Angkor feels like a private mansion with
its peaceful leafy gardens, protected from the bustle of the city.
Jimbaran Puri Bali is set in four acres of tropical gardens looking
out over Jimbaran Bay, a wide, white sandy beach, the best in Bali. The
property is comprised of 41 cottages and cottage suites. A beachfront restaurant
serves international and Indonesian fare and is particularly romantic at
night, reflecting the overall character of the hotel. Its �rooms on the
beach� style is unique on Jimbaran Bay, where other properties are set
higher up on the cliffside.
Ubud Hanging Gardens is perched adjacent to steep rice terraces
with sweeping views across the Ayung river gorge to the ancient Pura Penataran
Dalem Segara temple on the opposite hillside. It has 38 villas, constructed
in contemporary Balinese style on gravity defying pillars, with thatched
alang-alang roofs. The resort�s accommodation, restaurants, pool and spa
cascade down the hillside to the valley floor below and can be reached
by a unique private funicular. Ubud is a vibrant center of arts and culture,
with studios, galleries and restaurants and a lively calendar of traditional
activities as well as trekking and rafting for the more adventurous.
The Governor�s Residence in Yangon, Myanmar, is a restored teak
mansion in the embassy quarter, set amongst ancient trees and water features
and a traditional lotus garden. The furniture and woodwork in the 45 spacious
guest rooms is typical of the region and is offset by colorful silks and
indigenous works of art. The hotel is close to the magnificent Shwedagon
Pagoda, the spiritual heart of Yangon, and links with the company�s Road
To Mandalay river cruise ship which operates between Mandalay and Pagan.
Napasai, Koh Samui, has 55 individual cottages on the northern
coast of this charming island in the Gulf of Thailand. The property is
built on gentle slopes leading to a private crescent beach and has outstanding
sea views. There is a coral reef about 100 meters off the beach and the
island, known for its beaches, also provides great diving and snorkeling.
The central complex of the hotel has a spa, an infinity pool, two tennis
courts, a restaurant and a bar. Beyond the rooms is a small development
of 14 two and three-bedroom villas with private pools, eight of which are
still available for sale to private buyers.
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The Governor�s Residence
35 Taw Win Road, Dagon Township
Yangon, Myanmar
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La Résidence d�Angkor
River Road, Siem Reap
Kingdom of Cambodia
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�It made sense to both parties to accelerate our original deal,� said
Nick Varian, Vice President, Orient-Express Hotels. �We have had two years
working alongside Pansea�s excellent management and staff, who share our
commitment to providing the highest levels of service and hospitality.
�The six Pansea properties complement perfectly our Eastern & Oriental
tourist train which operates between Singapore and Bangkok, and the Road
to Mandalay cruise ship in Myanmar, giving Orient-Express Hotels a meaningful
presence in South East Asia and a platform on which to expand.�
In due course the company will be considering additional properties
in Singapore, Hong Kong, Vietnam and China.
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