Indian Hotels Raises Stake in Orient-Express

On CNBC, David Faber highlighted a Friday amended 13D on Orient-Express Hotels Ltd. (OEH) showing that The Indian Hotels Company Limited raised its stake in the company to 11.5% (up from 10%) and said it continues to explore opportunities for a possible association between Indian Hotels and the Company. Indian Hotels stated that its proposal will not result in a merger nor affect the independent status of the Company. Indian Hotels said the company has been unresponsive.

Orient-Express, in resisting past overtures from The Indian Hotels and another group, the Dubai Investment Group, has repeatedly stated that its standalone business strategy provided the best long-term value for shareholders.

CNBC's Faber said some investors of Orient-Express have been frustrated that the company has not actively pursued a sale. Faber said things may be heating up.

Interestingly, Steve Cohen's SAC Capital recently disclosed a 5.6% in the company. The stake is "passive", meaning Cohen doesn't have plans to influence the board or management --- of course this can change. Cohen, while not considered an activist investors, has been vocal with a few of his other investments.

Orient-Express owns luxury hotels around the world. Many of the company's properties are considered "prize" hotels.