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Last updated on April 18, 2014 at 17:24 EDT

Philip Mengel Named Interim CEO of Orient-Express Hotels

May 15, 2012

HAMILTON, Bermuda, May 15, 2012 /PRNewswire/ –

Bob Lovejoy to Remain Chairman of the Board

Search for Permanent CEO Continues

Orient-Express Hotels Ltd. (NYSE: OEH, http://www.orient-express.com) today
announced that Board member Philip R. Mengel has been named Interim Chief Executive
Officer while the Board continues its search for a permanent CEO. J. Robert “Bob” Lovejoy,
who has been serving as Interim CEO since July 2011, will remain Chairman of the Board.

Mr. Mengel said, “On behalf of the entire Board, I would like to express how grateful
we are to Bob Lovejoy for his willingness to wear two hats as Interim CEO and Chairman of
the Board over the past 10 months. The Board’s decision to combine the roles of the
Chairman and Interim CEO was always intended to be a temporary one. The search has taken
longer than we had originally anticipated when Bob agreed to serve as Interim CEO in
addition to Chairman, and we have now decided once again to separate these two roles. As
we continue to work diligently to identify the ideal candidate with the unique skill set
necessary to lead Orient-Express, I am pleased to step in to the Interim CEO role.”

Mr. Lovejoy said, “I have truly enjoyed serving as Interim CEO, but the two roles
added up to a heavy workload, and I appreciate the Board’s understanding of my decision to
focus on my role as Chairman. I know Orient-Express will be in excellent hands with Philip
at the helm in the coming months, supported by our outstanding management team, as we
continue our search for a permanent CEO. Having served as Chairman of the Board’s Audit
Committee for the past year, Philip has a deep understanding of our business, as well as
many years of senior executive experience, which will enable him to hit the ground
running.”

Mr. Mengel continued, “I am privileged to serve as Interim CEO of Orient-Express
alongside such a talented and dynamic group of professionals. In the meantime, the Board
will continue its work to identify a world-class leader to serve as Orient-Express’ chief
executive on a permanent basis, and I am confident that the Company will continue to
perform well during this interim period. Our recently announced first quarter results
reflect the strength of the Orient-Express brand and the high-end luxury market. We will
remain focused on continuing to drive growth and build value for shareholders.”

Mr. Mengel joined the Orient-Express Board in June 2011 and serves as the Chairman of
the Audit Committee. A seasoned leader, Mr. Mengel has served as chief executive at a
number of industrial companies throughout his career, including U.S. Can; English, Welsh &
Scottish Railway; and Ibstock Plc. He is currently an Operating Partner of Snow Phipps
Group, a New York-based private equity firm, and is a director of the Economist Newspaper
Group.

Mr. Lovejoy, a director since 2000, was named Chairman of the Board in June 2011 and
Interim CEO in July 2011. Formerly, he was a Managing Director and Partner at Lazard
Freres & Co. for more than 15 years and served as Co-Head of General Banking at Lazard.
Prior to that, Mr. Lovejoy was a Partner at Davis Polk & Wardwell LLP, where he practiced
law for over 13 years.

About Orient-Express Hotels Ltd.

Orient-Express Hotels Ltd., listed on the New York Stock Exchange, ticker OEH, engages
in the hotel, tourist train, restaurant and cruise ship business. Orient-Express Hotels
owns all or part of and manages 46 famous properties in 23 countries, including the Hotel
Cipriani in Venice, the Copacabana Palace in Rio de Janeiro and the Mount Nelson Hotel in
Cape Town. In addition, it owns the Venice Simplon-Orient-Express and Eastern & Oriental
Express tourist trains, ’21′ Club in New York City and the “Road To Mandalay” cruise ship
in Burma.

Safe Harbour Statement

This news release contains, in addition to historical information, forward-looking
statements that involve risks and uncertainties. These statements are based on
management’s current expectations and are subject to a number of uncertainties and risks
that could cause actual results to differ materially from those described in the
forward-looking statements. Factors that may cause a difference include, but are not
limited to, those mentioned in the news release, unknown effects on the travel and leisure
markets of terrorist activity and any police or military response, varying customer demand
and competitive considerations, failure to realize hotel bookings and reservations and
planned property development sales as actual revenue, inability to sustain price increases
or to reduce costs, rising fuel costs adversely impacting customer travel and the
Company’s operating costs, fluctuations in interest rates and currency values, uncertainty
of negotiating and completing proposed asset sales, debt refinancings, capital
expenditures and acquisitions, inability to reduce funded debt as planned or to agree bank
loan agreement waivers or amendments, adequate sources of capital and acceptability of
finance terms, possible loss or amendment of planning permits and delays in construction
schedules for expansion or development projects, delays in reopening properties closed for
repair or refurbishment and possible cost overruns, shifting patterns of tourism and
business travel and seasonality of demand, adverse local weather conditions, changing
global and regional economic conditions in many parts of the world and weakness in
financial markets, legislative, regulatory and political developments, and possible new
challenges to the Company’s corporate governance structure. Further information regarding
these and other factors is included in the filings by the Company with the U.S. Securities
and Exchange Commission.

        Contacts:
        Investors:
        Martin O'Grady, Vice President, Chief Financial Officer
        Tel: +44-20-3117-1333
        E: martin.ogrady@orient-express.com

        Media:
        Vicky Legg, Director, Corporate Communications
        Tel: +44-20-3117-1380
        E: vicky.legg@orient-express.com

SOURCE Orient Express Hotels Ltd


Source: PR Newswire