Orient-Express Hotels Ltd. (
recently announced the appointment of board member Philip R. Mengel
as the Chief Executive Officer (CEO) on an interim basis. Mengel
replaces J. Robert "Bob" Lovejoy, who resigned from the post of
interim CEO on professional grounds. He will now continue to serve
as the Chairman of the company's board.
J. Robert "Bob" Lovejoy has been playing the dual role of
Chairman of the board and interim CEO over the past 10 months. Bob
Lovejoy was appointed as the interim CEO, when the company's ex-CEO
Paul White resigned from his position in July 2011. The company is
still searching for a permanent successor for White.
Philip R. Mengel joined Orient-Express as Chairman of the Audit
Committee in June 2011. Currently, he also serves as the Operating
Partner of Snow Phipps Group and a director of the Economist
Newspaper Group. Previously, Mengel has held positions of chief
executive officer in a number of industrial companies like U.S.
Can; English, Welsh & Scottish Railway; and Ibstock
Management remains optimistic on the appointment of Mr. Mengel
on an interim basis as they believe that his experience and
profound understanding of the company's business will drive the
company to new heights and thereby will enhance shareholders
Orient-Express, which competes with the likes of
Starwood Hotels & Resorts
Worldwide Inc. (
Hyatt Hotels Corp. (
, reported its first quarter 2012 earnings in early May. Total
revenue, excluding Real Estate, was up 10% at $107.0 million while
revenue from owned hotels grew 8% to $93.9 million. Adjusted loss
from continuing operation was 16 cents, which beat the Zacks
Consensus Estimate of a loss of 18 cents. The company expects
financials in 2012 to benefit from portfolio optimization activity
and stabilization of global economic environment, especially
Orient-Express currently retains a Zacks #3 Rank, which
translates into a short-term Hold rating. We are also maintaining
our long-term Outperform recommendation on the stock.
HYATT HOTELS CP (H): Free Stock Analysis Report
STARWOOD HOTELS (HOT): Free Stock Analysis
ORIENT EXP HOTL (OEH): Free Stock Analysis
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