Belmond shares up as luxurious firm moots sale | Information

Belmond has appointed Goldman Sachs and JP Morgan as monetary advisors with a view to a attainable sale.

In a press release earlier, the luxurious group mentioned it was exploring “strategic alternate options to boost shareholder worth”.

Weil and Gotshal & Manges had been appointed as authorized advisor to assist perform a assessment.

Belmond is a world assortment of lodge and luxurious journey adventures.

Established greater than 40 years in the past with the acquisition of Belmond Resort Cipriani in Venice, the corporate owns and operates 47 distinctive and distinctive lodge, rail and river cruises.

These embrace Belmond Grand Resort Europe, St. Petersburg, Belmond Copacabana Palace, Rio de Janeiro, Belmond Maroma Resort & Spa, Riviera Maya, and Belmond El Encanto, Santa Barbara.

Belmond additionally encompasses safaris, eight luxurious vacationer trains together with the Venice Simplon-Orient-Specific, three river cruises and ‘21’, one in all New York’s most storied eating places.

Roland Hernandez, chairman of Belmond, mentioned: “We’ve got made significant progress towards our long-term strategic objectives, together with rising earnings, rising model consciousness, and increasing our world footprint.

“We imagine that now’s the correct time to conduct a strategic assessment course of in an effort to improve worth for shareholders, given Belmond’s actually distinctive and distinctive assortment of iconic owned properties and powerful fundamentals in our markets all over the world.”

Shares in Belmond rose by 35 per cent following launch of the information.




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