NEW YORK (AP) Shares of luxury hotel company Orient-Express Hotels Ltd. rose yesterday after an analyst said Wall Street is underestimating the earnings potential of Orient?s real estate projects.

The Bermuda-based company?s shares rose $2.13, or 5.7 percent, to $39.22 in morning trading on the New York Stock Exchange, putting the stock up 24 percent for the year so far.

On Monday, Orient-Express hosted investor meetings in which it said it sees continuing demand growth and first-quarter bookings ahead by 8 percent.

?We believe current Street estimates underestimate the earnings potential from Orient-Express?s real estate development,? Deutsche Bank analyst Marc Falcone said in a client note, maintaining his ?Buy? rating.

Orient-Express ? which owns or has stakes in about 40 luxury hotels worldwide ? is currently developing five real estate projects including locations in Maroma, Mexico, and Bora Bora, Tahiti.