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TheStreet Open House

Orient-Express Names John M. Scott III President And Chief Executive Officer

Stocks in this article: FUNOEH

Mr. Lovejoy noted that Mr. Scott formerly served as President and CEO of Rosewood Hotels & Resorts from 2003 until the sale in 2011 of Rosewood and related owned hotel assets (including The Carlyle, Mansion on Turtle Creek, Hotel Crescent Court, Little Dix Bay and Inn of the Anasazi).

Prior to joining Rosewood Hotels, Mr. Scott served for seven years as Managing Director of Acquisitions and Asset Management at Maritz, Wolff & Co., where he was responsible for acquisitions and asset management for the private equity real estate investment group.  Previously, Mr. Scott held management positions in business planning and development at The Walt Disney Company and senior hotel management positions at the Interpacific Group Hong Kong, a private hotel investment and management company operating in the Asia-Pacific region.  

Mr. Scott holds a Master's Degree in Business Administration from Harvard Business School and a Bachelor of Arts Degree from Dartmouth College.  He also serves on the Board of Cedar Fair Entertainment (NYSE: FUN), a leading publicly traded theme park and entertainment company.

Deutsche Bank Securities Inc. and Goldman, Sachs & Co. are acting as financial advisors to Orient-Express.  Davis Polk & Wardwell LLP is acting as legal advisor to Orient-Express.

The text of the letter sent to Indian Hotels is below:

November 8, 2012

Mr. R. K. Krishna Kumar Vice Chairman The Indian Hotels Company Limited Mandlik House Mandlik Road Mumbai 400 001 India

Dear Mr. Kumar:

I am writing in response to your letter of October 18, 2012 setting forth an unsolicited proposal by The Indian Hotels Company and certain other entities to acquire all of the outstanding shares of Orient-Express Hotels Ltd. for $12.63 per share in cash.

After thorough consideration, and in consultation with independent financial and legal advisors, our Board of Directors has unanimously concluded that your proposal significantly undervalues Orient-Express and its future prospects.  Like that of many other hospitality companies and luxury sector participants, we believe the current price of Orient-Express shares reflects the market's short-term outlook and not the long-term value of its assets.

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