HAMILTON, Bermuda, PRNewswire-FirstCall/--Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com),owners or part-owners and managers of 51 luxury hotels, restaurants, touristtrains and river cruise properties operating in 25 countries, has announced its results for the fourth quarter and full year ended December 31, 2007.Fourth Quarter 2007 highlights
- Fourth quarter total revenues of $151.2 million, up 12% over prior year
- Fourth quarter net earnings from continuing operations of $10.2million, up 53% over prior year
- EPS from continuing operations of $0.24. Adjusted EPS of $0.25
- World-wide same store RevPAR up 10% in local currency, 14% in U.S.dollars
- Completed acquisition of land to develop a new '21' hotel in New York
- Completed takeover of Hotel das Cataratas, Iguacu Falls, Brazil (photo top right)
Full-Year highlights
- Full-year total revenues of $599.6 million, up 21% over prior year
- Full-year net earnings from continuing operations of $50.3 million, up37% over prior year
- EPS from continuing operations of $1.19. Adjusted EPS of $1.25
- Full-year EBITDA of $154.1 million up 13%, adjusted EBITDA up 19% overprior year
- World-wide same store RevPAR up 11% in local currency, 15% in U.S.dollars
- Accelerated acquisitions of The Royal Scotsman and Afloat in Francebusinesses in Europe
- Acquired land to build a hotel in Buzios, Brazil
"We are extremely pleased to see that the luxury market continues to show strength, as reflected in Orient-Express' year-end and fourth quarterresults," said Orient-Express Hotels President and CEO, Paul White. "We believe that there will continue to be numerous opportunities for growth through acquisitions of properties, as well as through strategic organic expansion into key geographic markets."
Contacts:
Pippa Isbell,
Vice President
Corporate Communications,
Tel: +44-20-7921-4065,
Kal Goldberg,
Financial Dynamics,
Tel: +1-212-850-5731
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