Hotel Online
News for the Hospitality Executive


Paul White Resigns as CEO of Orient-Express Hotels;
Chairman Bob Lovejoy Named Interim CEO

HAMILTON, Bermuda, July 8, 2011 -- Orient-Express Hotels Ltd. (NYSE:OEH, today announced that Paul White, President and Chief Executive Officer, has resigned from the Company and from the Board of Directors.

Bob Lovejoy, Chairman of the Board, has been named Interim Chief Executive Officer while the Board conducts a search for a permanent replacement.  The Board has named a Search Committee chaired by director Mitchell Hochberg including Lovejoy, Prudence Leith and Georg Rafael.

Lovejoy said, "The Board appreciates the good work Paul White has done both in this role as President and Chief Executive Officer and indeed during his other roles in his 20 years with the Company.  He has managed the Company through a difficult economic period, and has positioned Orient-Express for renewed growth.  We understand and agree with his decision to step down for personal reasons.  We wish him well in his future endeavors."

Lovejoy continued, "Orient-Express is fortunate to have a strong operating management team, and the Board is confident the Company will not miss a beat during this transitional period.  Financial results for the first quarter of 2011, which included RevPAR growth for the fifth consecutive quarter, demonstrated the recovery of the luxury travel market and the financial progress the Company has made.  We expect to continue this positive momentum, and as Interim CEO I will work to ensure we remain focused on profitable growth and building long-term shareholder value."

Lovejoy, a director since 2000, was recently named Chairman of the Board.  He formerly was a Managing Director and Partner at Lazard Freres & Co. for over 15 years and served as Co-Head of General Banking at Lazard.  Earlier, Mr. Lovejoy was a Partner at Davis Polk & Wardwell, where he practiced law for over 13 years.

Investor Call

Orient-Express Hotels will conduct a conference call today at 10:30 am EDT (3:30 pm BST) which is accessible at 1-877-397-0292 (US toll free) or 719-325-4844 (International). The conference ID is 3547212. A replay of the conference call will be available at 1:30 pm EDT on July 8, 2011 until 1:30 pm EDT on July 15, 2011 and can be accessed by calling 1-888-203-1112 (US toll free) or 719-457-0820 (International) and entering replay access number 3547212. A replay will also be available on the company's website:

About Orient-Express Hotels Ltd.
Orient-Express Hotels Ltd., listed on the New York Stock Exchange, ticker OEH, engages in the hotel, tourist train, restaurant and cruise ship business.  Orient-Express Hotels owns and manages 50 famous properties in 24 countries, including the Hotel Cipriani in Venice, the Copacabana Palace in Rio de Janeiro and the Mount Nelson Hotel in Cape Town. In addition, it owns the Venice Simplon-Orient-Express and Eastern & Oriental Express tourist trains, '21' Club in New York City and the "Road To Mandalay" cruise ship in Burma.

Safe Harbour Statement

This news release contains, in addition to historical information, forward-looking statements that involve risks and uncertainties. These statements are based on management's current expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Factors that may cause a difference include, but are not limited to, those mentioned in the news release, unknown effects on the travel and leisure markets of terrorist activity and any police or military response, varying customer demand and competitive considerations, failure to realize hotel bookings and reservations and planned property development sales as actual revenue, inability to sustain price increases or to reduce costs, rising fuel costs adversely impacting customer travel and the Company's operating costs, fluctuations in interest rates and currency values, uncertainty of negotiating and completing proposed asset sales, debt refinancings, capital expenditures and acquisitions, inability to reduce funded debt as planned or to agree bank loan agreement waivers or amendments, adequate sources of capital and acceptability of finance terms, possible loss or amendment of planning permits and delays in construction schedules for expansion or development projects, delays in reopening properties closed for repair or refurbishment and possible cost overruns, shifting patterns of tourism and business travel and seasonality of demand, adverse local weather conditions, changing global and regional economic conditions in many parts of the world and weakness in financial markets, legislative, regulatory and political developments, and possible new challenges to the Company's corporate governance structure. Further information regarding these and other factors is included in the filings by the Company with the U.S. Securities and Exchange Commission.

Martin O'Grady
Vice President, Chief Financial Officer
Tel: +44-20-7921-4038

Vicky Legg
Director Corporate Communications
Tel: +44-20-7921-4067

Receive Your Hospitality Industry Headlines via Email for Free! Subscribe Here

To Learn More About Your News Being Published on Hotel-Online Inquire Here
Also See: Orient-Express Hotels Appoints Bob Lovejoy as Chairman of the Board and Names Two New Directors to its Eight Member Board / June 2011

Chairman James Hurlock and Founder James Sherwood to Retire From Orient-Express Board Of Directors; Director Bob Lovejoy Expected to Become Chairman / March 2011

Orient-Express Hotels Ltd Appoints Roy Paul as Chief Development Officer / January 2011

Raymond Blanc Appointed Vice President, Orient-Express Hotels Ltd / December 2010

Texans Credit Union Selects Aimbridge Hospitality to Manage The Plantation Golf Resort & Spa in Crystal River, Florida / January 2010

Aimbridge Hospitality Awarded Eight Management Contracts in 2009; Dan Williams Promoted to VP of Development and Kevin Dingle Promoted to Director of Development as Company Prepares for Growth / January 2010

The 2009 Dallas Hotel Conference Presented by Aimbridge Hospitality, Alvarez & Marsal Real Estate Advisory Services and Gardere Wynne Sewell LLP Provided Attendees with a State of the Industry and How to Plan for Recovery / December 2009

Aimbridge Hospitality Opens the 216-room All-suite Houston Embassy Suites-Energy Corridor / November 2009

Mac Haik Enterprises Selects Aimbridge Hospitality to Manage the Houston Embassy Suites-Energy Corridor / December 2008
To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch

Home | Welcome | Hospitality News
| Industry Resources

Please contact Hotel.Online with your comments and suggestions.