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Thursday, July 10, 2008
Russell Parsons
Orient-Express Hotels is to partner with US real estate developer The Related Group to develop hotels and residencies in Miami, Columbia and Panama City.
The two have signed a “letter of intent” to establish a 50/50 strategic partnership, to develop and operate “multi-use projects” including hotels, branded residential and commercial components.
Initial projects, all planned to open in three years, would include: a hotel with 28 luxury residencies in South Beach, Miami, an oceanfront hotel in Cartagena, Columbia and a hotel on Avenida Balboa, Panama City.
In each case, the hotel would be part of wider development and would be managed by Orient-Express.
Paul White, president and chief executive of Orient-Express, said: “We are proud to have entered into this proposed strategic partnership with a company of the calibre of Related.
“Our development policy is clearly focused on high-end luxury properties which fit the Orient-Express customer profile and increasingly those customers are also interested in real estate opportunities.”
The Miami plan would bring the number of Orient-Express projects in the US to eight.
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