Orient-Express Hotels posts full-year loss
Orient-Express Hotels has reported its full-year 2009 results, with the company seeing a net loss of US$68.7 million fore the 12 months ending 31 December 2009, compared to a US$26.6 million in 2008. However the Q4 2009 performance did improve from the same period in 2008, narrowing to a US$16.8 million loss, from a deficit of US$48.1 million in Q4 2008. Revenues for the year declined 14%, or US$76.8 million. The company’s President and Chief Executive Officer, Paul White, called 2009 a “challenging year”.