Luxury Hotelier Belmond Considers Putting Itself Up for Sale
Photo Credit: The Belmond Hotel Splendido in Portofino, Italy, is one of Belmond's many iconic properties. Belmond
Skift Take
Now the question is: Who will buy it, and does the company name happen to end with “riot”?
Belmond, the luxury hospitality company perhaps best known for its former association with the Orient-Express banner, is exploring a possible sale.
The company, which consists of 46 luxury hotels, restaurant, train and river cruise properties, announced on Wednesday that its board is exploring “strategic alternatives to enhance shareholder value.” In other words, the company is looking for potential buyers, assisted by heavyweight Wall Street firms Goldman Sachs and JP Morgan.
“The board is committed to pursuing a path that is in the best interests of all Belmond shareholders. Accordingly, we are conducting a robust review of the full range of strategic, operational and financial alternatives available to the company, including a possible sale,” Roland Hernandez, chairman of the Belmond board of directors, said in a statement.
Belmond's stock jumped 17 percent in after-hours trading Wednesday following the announcement.
“We have made meaningful progress toward ou
