Luxury train and hotel group Orient-Express Hotels has bought a stake in Le Manoir Aux Quat’ Saisons, the Oxfordshire hotel-restaurant run by renowned chef Raymond Blanc, it was announced today.
Under the deal, Orient-Express is also buying a stake in Le Petit Blanc, a chain of four Parisian-style brasseries created by Mr Blanc in Oxford, Cheltenham, Birmingham and Manchester.
It is buying the stakes from Sir Richard Branson’s Virgin Hotels group, which had a 50% stake in Le Petit Blanc and a majority stake in Le Manoir.
Raymond Blanc, who has a stake in both, is keeping his shareholding and will continue to run both businesses in the new partnership.
In addition, Orient-Express is buying La Residencia, a 63-room hotel in Mallorca from Virgin Hotels.
The total deal amounts to US$40m (£28m). A spokesman for Virgin said Sir Richard wanted to concentrate investment on luxury resorts in locations such as South Africa and the Caribbean.
Virgin Hotels currently owns sites in the Caribbean, Morocco and South Africa.
Orient-Express owns or operates 27 hotels worldwide, six tourist trains, a river cruise ship and two restaurants.
EGi News 21/02/02
