Orient-Express Hotels, the company that owns the eponymous train and some of the world’s most luxurious hotels, is being tipped as the next bid target in a sector attracting private equity interest.

Financial predators, including an unnamed American hedge fund and Starwood Capital, which has a 4 per cent stake, are understood to have run a slide rule over the New York-listed group in recent months. Blackstone and Morgan Stanley are also thought to have looked at the business. This week Blackstone has offered $26 billion (£13 billion) for Hilton Hotels Corporation.

The Times understands that Von Essen Hotels, the British luxury hotel operator, is keen to buy Orient-Express’s European properties and has been talking to financial institutions about a joint approach.

Von Essen, worth an estimated £250 million, has been dismissed by analysts as too small to bid for all of the company, which is likely to fetch more than $3 billion after including debt. However, its involvement in a break-up looks more feasible.

Andrew Davis, its chairman and sole shareholder, has bought 23 hotels since he founded Von Essen, including Cliveden, in Berkshire, and the Royal Crescent, in Bath. In January it bought the Château de Bagnols in Beaujolais for about £17 million.

A separate business, Von Essen Aviation, owns 15 helicopters and three private jets and recently acquired PremiAir Aviation, which manages a helicopter and jet charter operation. Its assets include London Heliport in Battersea, where it is also planning to develop a luxury hotel.

Orient-Express has been seen as vulnerable to a bid since the resignations in quick succession of its chairman, chief executive and chief financial officer. Only the chairman’s post has been filled, although a new chief executive could be named within weeks.

Despite mounting speculation of bid interest, Orient-Express has said nothing and it is not clear whether its board, such as at is, is receptive to approaches or has appointed advisers. Some shareholders contacted by The Times have expressed frustration over lack of information from the company.

Orient-Express owns or runs 39 of the world’s best-known hotels, including Le Manoir aux Quat’ Saisons, in Oxfordshire, and the Cipriani, Venice. It runs six tourist trains, including the Venice Simplon-Orient-Express.

Analysts said that private equity firms were studying most of the world’s top hotel companies, including InterContinental Hotels Group and Starwood Hotels & Resorts, which is reputed to have rejected an approach in recent weeks.

Separately, the luxury Columbus Hotel in Monaco is about to be put up for sale through Christie & Co, the property agent, for an estimated €50 million (£33.8 million). The 181-room hotel is being sold by Ken McCulloch, founder of the Malmaison Hotels chain, and David Coulthard, the racing driver. The sale has been precipitated by a falling out between Mr McCulloch and a third partner, the Chicago multimillionaire Peter Morris. Mr McCulloch is selling up to focus on his Dakota hotel chain.

Orient-Express Hotels

Founded: 1976

Hotels: 39 on five continents, including Cipriani, in Venice; Mount Nelson, in Cape Town; Copacabana Palace, in Rio de Janeiro; Observatory, in Sydney; Charleston Place, in Charleston

Restaurants: two – 21 Club, in New York, and La Cabaña, in Buenos Aires

Tourist trains: six, including Venice Simplon-Orient-Express, The Eastern & Oriental Express and The Royal Scotsman. Also part-owns PeruRail

Boats: MV Road to Mandalay in Burma, plus Afloat in France, a luxury barge operator

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