Orient-Express Hotels Announces Pricing of Common Share Offering

Jan 12, 2010, 18:20 ET from Orient Express Hotels Ltd

HAMILTON, Bermuda, January 12 /PRNewswire-FirstCall/ -- Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com), today announced the pricing of its public offering of 12 million Class A common shares at a price of $10.00 per share. The Company has granted the underwriters an option to purchase up to an additional 1.8 million shares to cover over-allotments, if any. Subject to customary conditions, the offering is expected to close on or about Tuesday, January 19, 2010.

The Company intends to use the net proceeds from this offering, which are expected to be approximately $114 million (without giving effect to any exercise of the underwriters' over-allotment option) to pay the cash portion of the purchase price of two hotel properties located in Taormina, Sicily and for general corporate purposes.

Deutsche Bank Securities Inc. and Barclays Capital Inc. are acting as joint book-running managers and underwriters for the offering.

    Contact:

    Martin O'Grady
    Vice President, Chief Financial Officer
    Tel: +44-20-7921-4038
    E: martin.ogrady@orient-express.com

    Pippa Isbell
    Vice President, Corporate Communications
    Tel: +44-20-7921-4065
    E: pippa.isbell@orient-express.com


SOURCE Orient Express Hotels Ltd