{"id":1004017616,"date":"2010-02-05T10:31:31","date_gmt":"2010-02-05T18:31:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004017616"},"modified":"2022-12-01T11:49:34","modified_gmt":"2022-12-01T19:49:34","slug":"orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\/","title":{"rendered":"Orient-Express Goes for Growth, Snaps Up Pair of Properties for $117M"},"content":{"rendered":"<p>February 5, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004017617\" style=\"width: 160px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/orex_475x300_explore_heartofcity03.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004017617\" data-attachment-id=\"1004017617\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\/orex_475x300_explore_heartofcity03\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/orex_475x300_explore_heartofcity03.jpg\" data-orig-size=\"475,300\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"orex_475x300_explore_heartofcity03\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;From Orient-Express website&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/orex_475x300_explore_heartofcity03.jpg?w=475\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/orex_475x300_explore_heartofcity03.jpg\" alt=\"\" title=\"orex_475x300_explore_heartofcity03\" width=\"150\" height=\"150\" class=\"size-thumbnail wp-image-1004017617\" \/><\/a><p id=\"caption-attachment-1004017617\" class=\"wp-caption-text\">From Orient-Express website<\/p><\/div>\n<p>Bermuda-based hotelier Orient-Express this week confirmed that it has completed the purchase of the Grand Hotel Timeo and Villa Sant\u2019Andrea, both in Taormina, Sicily. Orient-Express bought the pair of properties from The Framon Group for a combined $117 million. <\/p>\n<p>The acquisition caps a year of consolidation and a return to the growth cycle, according to HotelNewsNow.com. Orient-Express president and CEO Paul White told the publication that the strategy was a means of dealing with the global recession over the past year and a half.<\/p>\n<p>That strategy also includes shedding properties that are not considered beneficial to the company\u2019s portfolio. When announcing the two purchases this week, Orient-Express confirmed that it had sold an Australian property, Lilianfels Blue Mountains, to Lilianfels Hotel Pty LTD for $19.3 million. Other assets that have been sold include the Lapa Palace Hotel in Lisbon, Portugal along with the Windsor Court Hotel in New Orleans. <\/p>\n<p>\u201cThe sale of Lilianfels, and the sale of other non-core assets in 2009, significantly strengthened our balance sheet,\u201d White said in a statement. He asserted confidence that the firm can improve performance at both new properties in Sicily.<\/p>\n<p>Orient-Express owns or partly owns and manages fifty luxury hotels, restaurants, tourist trains and river cruise properties operating in 24 countries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bermuda-based hotelier Orient-Express this week confirmed that it has completed the purchase of the Grand Hotel Timeo and Villa Sant\u2019Andrea, both in Taormina, Sicily. Orient-Express bought the pair of properties from The Framon Group for a combined $117 million. <\/p>\n","protected":false},"author":936,"featured_media":1004017617,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,21742],"tags":[],"class_list":["post-1004017616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Orient-Express Goes for Growth, Snaps Up Pair of Properties for $117M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orient-Express Goes for Growth, Snaps Up Pair of Properties for $117M\" \/>\n<meta property=\"og:description\" content=\"Bermuda-based hotelier Orient-Express this week confirmed that it has completed the purchase of the Grand Hotel Timeo and Villa Sant\u2019Andrea, both in Taormina, Sicily. Orient-Express bought the pair of properties from The Framon Group for a combined $117 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-02-05T18:31:31+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-01T19:49:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/orex_475x300_explore_heartofcity03.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"475\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"Orient-Express Goes for Growth, Snaps Up Pair of Properties for $117M\",\"datePublished\":\"2010-02-05T18:31:31+00:00\",\"dateModified\":\"2022-12-01T19:49:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\\\/\"},\"wordCount\":235,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2010\\\/02\\\/orex_475x300_explore_heartofcity03.jpg\",\"articleSection\":[\"Hotel\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/orient-express-goes-for-growth-snaps-up-pair-of-properties-for-117m\\\/\",\"name\":\"Orient-Express Goes for Growth, Snaps Up Pair of Properties for $117M - 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