Belmond Hotels for sale and attracting some big name interest
Belmond Hotels is to be sold, with some interesting names in the pot.
Belmond Hotels is up for sale, and a selection of potential buyers have been queueing up to place their bid, among them some of the biggest names in the hotel industry. We find out more.
Belmond Hotels was founded in 1976 in Italy, their first hotel being the iconic Belmond Hotel Cipriani.
Six years later they launched the Venice Simplon-Orient-Express, which marked their first foray into the world of rail travel.
Since then they have accumulated more than 46 legendary hotels, cruises and trains in 24 countries around the world.
The collection includes luxury properties in coveted destinations such as Rio and St. Petersburg, and offers guests once in a lifetime experiences in Myanmar and Machu Picchu.
It is also the owner of famous New York restaurant the 21 Club, and has a host of safaris as part of its repertoire as well.
Bids for Belmond
Bids for all or part of Belmond are coming in fast in advance of its due date for first round offers which is due at the end of October.
Although the list of names vying for Belmond’s prize has not been made public, insiders report a number of big brands that are all throwing their hat in the ring.
An impressive roster to say the least, but perhaps not surprising given Belmond’s $1.8 billion price tag. Once the list of interested parties was announced on Bloomberg, Belmond’s shares skyrocketed to a session high, good news for those who have been keeping tabs on the company’s rising share price of over 60% since the sale was announced earlier in the summer.
However, all of this is just mere speculation at this point. Potentially interested parties are keeping their cards close to their chests, and the list could extend well beyond those that have been named.
Analysts at Jefferies Financial Group Inc. told clients in August that “there could be large public lodging companies, private real estate-focused entities and sovereign entities as viable suitors.
” Hilton also refused to say anything too concrete, explaining, “We continue to evaluate opportunities to invest in the growth of our business while maintaining our commitment to reduce our portfolio of owned real estate.” For more information, click here.
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