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Acquisitions deal for Orient-Express Hotels
Orient-Express Hotels has continued its expansion with the acquisition of two hotels and four restaurants.
In a deal with Virgin Hotels, Orient-Express has acquired the 63-room La Residencia in Mallorca.
As part of the same transaction, Orient-Express entered into a partnership with chef Raymond Blanc by buying Virgin's share of Le Manoir Aux Quat' Saisons in Oxfordshire.
The joint venture includes Virgin's 50 per cent share in Le Petit Blanc, four of Raymond Blanc's brassieres in Oxford Cheltenham, Manchester and Birmingham.
The acquisitions, which total $40m, give Orient-Express a presence in the UK and Spain for the first time, and bring the chain's portfolio to 29 hotels worldwide.
Two of the group's hotels, the Inn at Perry Cabin in Maryland, USA and the Bora Bora Lagoon resort in Tahiti, also reopen this spring after extensive refurbishment.
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