Orient-Express Hotels announced that it has sold its 49% interest in Harry's Bar Ltd in London to its partner, Mark Birley Holdings Ltd, for US$9.5 million.

The shares were independently valued and have been sold at that valuation. Mark Birley, the owner of the Annabel's Group which includes Mark Birley Holdings Ltd, and James B Sherwood, Chairman of Orient-Express Hotels which includes Hotel Cipriani Inc, owner of the 49% interest, confirmed that the negotiations and conclusion of the arrangements to end the long and profitable relationship had been very amicable.

The Orient-Express Hotels board felt the club is such a personal business that ultimate ownership would be more appropriate in hands of the Birley family than in Orient-Express Hotels and it also felt the valuation placed a fair price on the shares.

Harry's Bar was established in 1979 as a fine dining private club serving North Italian cuisine. The club was the creation of Mark Birley with financial and other assistance from Hotel Cipriani Inc.