Orient-Express Hotels Ltd, owners or part-owners and managers of 50 luxury hotel, restaurant, tourist train and river cruise properties operating in 24 countries, have announced the results for the fourth quarter and full year ended December 31, 2010.

“Widespread belief that our industry has begun to enter a sustained period of recovery was supported by a fourth consecutive quarter of good RevPAR growth, albeit in a quarter that is ‘low season’ for many of our properties,” said Paul White, president and chief executive officer.

“The same store RevPAR growth of 10 per cent (nine per cent in local currency) was driven primarily by occupancy, with rates holding up well. In addition to this solid operating performance, the company continued to improve its balance sheet after completing key refinancings on 10 assets and raising $117.3 million of cash by way of a successful common share offering.

“I am pleased to see Orient-Express continue to achieve the highest recognition for its service levels, with more awards from the most highly regarded sources in the industry. Credit must be given to our workforce around the world, who continually strive to exceed customer expectations...”