Orient-Express Buys Pansea Hotels

Orient-Express Hotels has acquired the Pansea Hotels group for $25 million. The deal, which was originally scheduled for 2009, will close in one month. Orient-Express is purchasing six Pansea properties in Southeast Asia and is contemplating buying additional hotels in Singapore, Hong Kong, Vietnam and China. Pansea's management will remain in place at the six hotels and at the head office in Bangkok.

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