Orient-Express Acquires Two Hotels in Sicily

Orient-Express has signed a binding agreement to purchase the Grand Hotel Timeo and the Villa Sant’Andrea in Taormina, Sicily, for a combined price of €81million (US$117 million). After a series of renovations to bring them up to Orient-Express standard, both hotels will reopen in time for the summer season 2010.

The 83-key Grand Hotel Timeo is one of the most luxurious hotels in Taormina and the 78-key Villa Sant’Andrea has a private beach on the Bay of Mazzarò in Taormina Mare.

Orient-Express Hotels will close both hotels, as it does its existing Italian properties over winter, and upgrade key facilities, such as bathrooms and the spa.

Built in 1873, the Grand Hotel Timeo occupies an excellent position in the historical centre of the city. From the hotel's panoramic terrace, guests can admire spectacular views of Mount Etna and the bay of Naxos. Since the 19th century and the era of the Grand Tour, the hotel has been popular with an elite group of international travellers, who enjoy the hotel’s unique location, swimming pool, wellness centre and the parkland which surrounds it. Each guest room has its own terrace and the hotel's ‘Il Dito e la Luna’ restaurant specialises in regional Sicilian cuisine.

Villa Sant'Andrea is located on the Bay of Mazzarò, the heart of Taormina's seaside district. The atmosphere is that of a private villa, enriched by paintings and antiques and set in lush gardens just steps away from a private beach. Several of the hotel's suites open onto a private terrace. The ‘Oliviero’ restaurant, on a panoramic terrace overlooking the Calabrian coast, is known for its fish and seafood specialities.

The Grand Hotel Timeo nestles adjacent to one of the city’s most famous attractions, the legendary Greek Theatre, dating back to the 2nd century AD. Below, looking out across the blue waters of the Ionian sea, Villa Sant’Andrea, built in 1830, is right on the beach. The two properties are located approximately five kilometers apart and are linked by a private shuttle.

Sicily, the largest Mediterranean island, has been growing in popularity as a tourist destination due to its excellent climate, magnificent scenery and splendid architectural legacy. The island attracts a mix of tourists from around the world and its history ranges from Greek colony to Roman province and from Arab Emirate to Norman Kingdom.

Perched on a 200 metre high rocky spur called Monte Tauro on Sicily’s East coast, Taormina overlooks majestic, sweeping bays and to the South, Mount Etna, often capped with snow despite the mild climate of the region. The city has good transport links and is located 40 minutes from Catania International Airport, which has direct flights to all major European cities and good connections to those serving the USA.

Commenting on the transaction, Paul White, President and Chief Executive of Orient-Express Hotels said, “Iconic properties such as the Grand Hotel Timeo rarely become available. Both of these hotels typify Orient-Express Hotels’ core business - established properties with history and personality.”

The transaction brings the number of Orient-Express properties in Italy to eight. These include Hotel Cipriani and Palazzo Vendramin in Venice, Villa San Michele in Florence, Hotel Splendido and Splendido Mare in Portofino and Hotel Caruso in Ravello.

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