Orient-Express Hotels has entered into a sale and purchase agreement to sell the five-star Lilianfels Blue Mountains Resort & Spa, an 85-bedroom hotel in Katoomba, New South Wales, Australia, to an undisclosed buyer for A$21m (£11.7m, US$ 19.1m, 13m euro).

Paul White, president and ceo of Orient-Express Hotels said: "This is further execution of our ongoing strategy to dispose of non-core businesses and brings the total proceeds realised in 2009 to more than US$105m (£64.4m, 71.1m euro). "We are delighted with the transaction, which represents 17 times the hotel's 2007 EBITDA and 23 times its 2008 EBITDA."

Orient-Express Hotels will continue to operate the hotel - formerly the historic home 'Lilianfels', built in 1889 - until the transaction closes, which is expected to be late January 2010.