Orient-Express Hotels Ltd. (NYSE: OEH) announced Tuesday that the hospitality company acquired an existing hotel in Peru from Industrias Turistica Vagamundos SAC for $7 million.
The acquisition, which is the company’s fifth Peruvian hotel, was made by Orient-Express Hotels' joint venture company, Peru OEH SA, which used cash reserves and $2.5 million of long-term debt for the purchase.
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The Hotel Rio Sagrado, which opened in April in the Sacred Valley of the Incas, contains 21 suites and two villas.
Orient-Express is the owner or part-owner and manager of 49 luxury hotel, restaurant, tourist train and river cruise properties in 25 countries.
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