Struggling luxury travel group Orient Express has confirmed it is considering “selective disposals” in an attempt to shore up its finances.
It has hired Deutsche Bank to examine a range of options, which could lead to the disposal of some its core operations, a partnership with a new investor or even an outright sale of the whole company.The group’s share price has suffered badly in the current downturn as fears over its ability to survive a downturn have been called into question.
Orient Express owns a number of landmark hotels including the Cipriani in Venice, as well as the Orient Express train service.
Interested parties in any disposal would be plenty. In the past Dubai’s Jumeirah group and the Indian conglomerate Tata have both expressed interest, as have a number of hedge funds. The property tycoons David and Simon Reuben, already also investors in Orient Express, could also raise their stake in the company.
A spokeswoman for Orient Express confirmed to the Telegraph that it was looking at divesting selective elements but declined to comment on Deutsche Bank’s appointment.
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