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The company derives its name from the Venice-Simplon Orient Express, acquired in 1977 by James Sherwood, its founder. This worldwide known train operates overnight service between London and Venice. The company also operates the Royal Scotsman train service and 50 percent interest of PeruRail in Peru. It operates a river cruise on the Irrawaddy River in Central Burma (Myanmar) and the Afloat franchise in France. The company owns the 21 Club in New York City. It planned to add a hotel next to it in the Donnell Library by 2011. However in March 2009 it announced it was backing out of the $59 million acquisition. Among the European hotels it owns is the Hotel Cipriani in Venice (the company sold its 49 percent interest in the London branch of Harry's Bar in 2006). In 2008 it won a London court order against Cipriani S.A. ordering the company to discontinue using the Cipriani name in London because Orient-Express owns the Cipriani name. In South America, it owns the famous Copacabana Palace in Rio de Janeiro and the Hotel Monasterio in Cusco, Peru. It also owns the Miraflores Park Hotel and the Machu Picchu Sanctuary Lodge. Two of its recent hotels/acquisitions are the Las Casitas del Colca in the Colca Canyon in Arequipa, Peru, and the Hotel das Cataratas, located right next to the famous Iguazu Falls. It also owns the La Cabaña steakhouse in Buenos Aires, Argentina. Hotels and restaurants accounted for 84% of revenue during the year ended December 31, 2006. Tourist trains and cruises accounted for 13% and the remaining 4% coming from “development activities.” The Company is being closely watched by the Tata Group of India which owns the Indian Hotels company that operates the Taj Hotels for a takeover, mainly to enhance its luxury hotel portfolio offering internationally. The Tata Group already owns 10 percent of Orient Express Hotels ltd. |
