Orient-Express Hotels has announced that it has reached agreement to accelerate its planned acquisition of the Pansea group of hotels in South East Asia.
Orient-Express Hotels’ relationship with Pansea dates back to 2004 when Orient-Express invested funds to assist the original owners with the development of the business. The structure of the deal allowed for Orient-Express Hotels to acquire 100 per cent of Pansea after five years, in 2009.
There are six Pansea Orient-Express hotels. They are La Résidence Phou Vao in Luang Prabang, the ancient royal capital of Laos; The Governor’s Residence in Rangoon, Burma, a former palace; La Résidence d’Angkor in Siem Reap, Cambodia, close to the famous temples of Ankor Wat; Napasai in Koh Samui on the Gulf of Siam in Thailand; and Bali, Indonesia where there are two hotels, Jimbaran Puri Bali in an exceptional beach location and the other, Ubud Hanging Gardens, on the spectacular Ayung river gorge.
The managements of Orient-Express Hotels and Pansea have worked together since 2004 and although Orient-Express control of the hotels was effective on 1 July 2006, there is no change to the existing booking channels available to agents, detailed below. The Pansea Orient-Express management and staff will also remain in the business.
The six Pansea properties plus the Eastern & Oriental tourist train which operates between Singapore and Bangkok, and the Road to Mandalay cruise ship in Burma, give Orient-Express Hotels a meaningful presence in South East Asia and a platform on which to expand. In due course the company will be considering additional properties in Singapore, Hong Kong, Vietnam and China.
Commenting on the acquisition, Nick Varian, Vice President, Orient-Express Hotels said, “It made sense to both parties to accelerate the original deal. We have had two years working alongside Pansea with its excellent management and staff, who share our commitment to providing the highest levels of service and hospitality in these excellent locations. The travel industry has played an important part in the success of the Pansea hotels and we do not anticipate any change to the mutually beneficial arrangements already in place. We look forward to working with agents, tour operators and tourist boards as we continue to develop our portfolio in South East Asia.”
|
