Orient Express: Hotel Chain Railroads Its Storied Name
Orient-Express Hotels Ltd. is trying to reshape its image by leaving the name of the 38-year old company back at the station. The owner and operator of 35 luxury properties, from Grand Hotel Europe in St. Petersburg, Russia, to the Copacabana Palace in Rio de Janeiro, this month changed its name to Belmond, which the company says is derived from the Latin words for "beautiful" and "world." Belmond also said on Friday that it completed a $657 million debt refinancing that nearly tripled its average loan maturity to 6.3 years. A $105 million revolving credit facility, along with a recent hotel sale and its existing cash, gives the company up to $200 million to invest in property acquisitions and upgrades to its roster of historic hotels.