Orient-Express Acquires 75% of Casa De Sierra Nevada, Mexico

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. October 14, 2008

SAN MIGUEL DE ALLENDE, Mexico, February 10, 2006. Orient-Express Hotels Ltd., owners and operators of 49 deluxe leisure properties in 25 countries, today announced its latest acquisition, a 75% interest in Casa de Sierra Nevada, a 33 room boutique hotel in the colonial town of San Miguel de Allende, Mexico for US$8.4 million. Orient-Express Hotels will manage the property.

Opened in 1952, Casa de Sierra Nevada is located a few blocks from the main city square of San Miguel and comprises nine architecturally beautiful Spanish colonial buildings dating from the 16th to 18th century. The buildings, which house guest rooms and suites, as well as two restaurants and bars, include the Casa del Parque, a fort in the 17th century and later a customs house for the silver trade; and Casa Principal, the former residence of San Miguel de Allende's Archbishop in 1580 and an official historical landmark.

Each casa or building, which features between two and six rooms or suites, is unique and features cloistered outdoor courtyards with fountains, small gardens and al fresco corridors. Guest rooms and suites capture the rich history of the area and are decorated with hand painted tiles, bovedas (curved/domed ceilings), polished copper sinks, and original paintings by local artists.

The hotel is a favourite of celebrities such as Salma Hayek, Johnny Depp, Antonio Banderas, Melanie Griffith and the late Anthony Quinn. "Casa de Sierra Nevada is a significant acquisition for Orient-Express, being the 50th property in our unique portfolio. It complements Maroma Resort and Spa, our property on the Riviera Maya and is our second hotel in Mexico," said Simon Sherwood, President. "Located in an exceptional destination, Casa de Sierra Nevada has expansion potential and when we have completed our planned renovations and enhancements next year, we are confident it can be repositioned at the highest luxury level."

Founded in 1542, San Miguel de Allende is located 160 miles north of Mexico City and remains a relatively undeveloped antique city of the old world. During colonial days, San Miguel, then called San Miguel El Grande, was the wealthiest town in silver rich "new Spain" and a centre of rebel activity during the struggle for Mexican independence.

San Miguel de Allende was named a National Monument in 1926 by the Mexican National Institute of Anthropology and History, and later by the United Nations as a World Heritage Site.

Sitting at an altitude 6,400 feet above sea level, the city enjoys a mild climate year round with cool evenings. It is a very green city, with trees, flowers and botanic gardens. The cobble-stoned streets are lined with palasios (also dating from the 16th to 18th century) that today are a mixture of private residences, galleries, restaurants and boutiques. Said to capture the "real Mexico", the main plaza is still the social pulse of the city - the bullfighting season is awaited with much anticipation, and Siesta takes place from 2pm to 4pm daily.

This blend of cultures has resulted in a wide range of options for visitors. On an average day, one can take in a foreign film, a reading by a visiting author, a guided trip to the market followed by a lesson with a chef on cooking, tour historic sites and galleries, or sign up for a variety of courses offered at the Institute Allende or Belles Artes, including: Spanish, painting, photography, etching, jewellery making and history courses.

Guests may fly into either Mexico City (a three and a half hour drive away) or the Guanajuato-Leon Airport (one and a half hours away). British Airways and American Airlines fly to both Mexico City and Guanajuato-Leon airports from the UK, while Continental and United also fly to Mexico City.

Orient-Express will invest US$5 million in renovations and enhancements to Casa de Sierra Nevada, including the development of 20 new suites, a full service Spa and a new pool and garden area on an undeveloped parcel of land. Casa de Sierra Nevada will continue to operate during renovation and refurbishment of rooms.