Bermuda-incorporated Orient-Express Hotels Ltd. has announced the closing of its previously announced public offering of 10,000,000 Class A common shares.

The company also announced that the underwriters for the offering exercised in full their over-allotment option to buy an additional 1,500,000 Class A common shares, bringing the total number of shares sold to 11,500,000 at a price of $10.75 per share for gross proceeds of $123.6 million.

Orient-Express Hotels received net proceeds of approximately $117.2 million, after deducting underwriting discounts and estimated offering expenses.

Deutsche Bank Securities Inc. and Barclays Capital Inc. acted as joint book-running managers and underwriters for the offering.