Non-Competition Agreement between Sea Containers Ltd. and Orient-Express Hotels Ltd. (August 1, 2000)

Summary

Sea Containers Ltd. agrees not to own or manage any luxury hotel or restaurant, except those operated with its ferry and rail services, for five years following the public offering described in its SEC registration statement. This commitment is made to Orient-Express Hotels Ltd., which acknowledges receipt of the agreement. The agreement is effective from the date of the offering and is intended to prevent competition between the two companies in the luxury hospitality sector during the specified period.

EX-2.5 7 ex-2_5.txt EXHIBIT 2.5 Exhibit 2.5 [Letterhead of Sea Containers Ltd.] August 1, 2000 Orient-Express Hotels Ltd. P.O. Box HM 1179 41 Cedar Avenue Hamilton HM EX Bermuda RE: NONCOMPETE AGREEMENT Dear Sirs: We undertake that, in the event the offering described in the registration statement on Form S-1 (No. 333-12030) filed with the U.S. Securities and Exchange Commission is made, we will not, for a period of five years from the date of the offering, own an interest in or manage any luxury hotel or luxury restaurant other than any such hotel or restaurant operated in conjunction with our passenger ferry and rail services. Please acknowledge receipt of this undertaking by signing and returning a copy to the undersigned. Very truly yours, Sea Containers Ltd. By: /s/ James B. Sherwood -------------------------------- President Receipt acknowledged: Orient-Express Hotels Ltd. By: /s/ Simon M. C. Sherwood --------------------------------- President Date: August 1, 2000