NEW YORK (AP) -- Hotel owner and manager Orient-Express Hotels Ltd. said Tuesday that it purchased a hotel in Peru from Industrias Turistica Vagamundos SAC for $7 million.
The acquisition 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.
The Hotel Rio Sagrado, which opened in April, contains 21 suites and two villas. The hotel, located in the Sacred Valley of the Incas, is the fifth Peru acquisition for Orient-Express.
Orient-Express is the owner or part-owner and manager of 49 luxury hotel, restaurant, tourist train and river cruise properties in 25 countries.
