The company that owns the Orient-Express train and some of the world’s most luxurious hotels looks set to change hands for more than $3 billion (£1.53 billion), The Times has learnt.

Orient-Express Hotels, which is listed on the New York Stock Exchange, is understood to have received approaches from a number of potential suitors. Merrill Lynch, which handled its flotation in 2000, is tipped to be appointed as adviser.

Analysts cited Von Essen Hotels, the British luxury hotel operator, as a possible buyer, while the American private equity firms Blackstone Group and Starwood Capital have also expressed interest.

The Bermuda-based company, which is controlled by James Sherwood and his family, has been seen as vulnerable to a bid since Mr Sherwood’s stepson, Simon, announced last month that he would be stepping down as chief executive in August.

At the time of the resignation, a spokesman for the company said: “The board is happy with its position as a public company, but continues to watch the marketplace.”

Orient-Express Hotels owns or operates 38 of the world’s best-known hotels, including: Le Manoir aux Quat’Saisons, in Oxfordshire; the Cipriani, in Venice; Reid’s Palace, in Madeira; the Windsor Court, in New Orleans; and the Copac-abana Palace, in Rio de Janeiro.

It also runs ‘21’ Club, the famous New York restaurant, and six tourist trains, including the Venice Simplon-Orient-Express and the Eastern & Oriental Express in SouthEast Asia. It also owns 50 per cent of the Royal Scotsman.

Shares of Orient-Express rose by almost 3 per cent to $54.90 in early trading, valuing the group at $2.3 billion (£1.2 billion).

James Sherwood founded Orient-Express in 1976 as a division of the ill-fated Sea Containers group.

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