Ah, it was Lost Horizon (singular) as in the James Hilton book about Shanrgi-La. Something tells me I did see this, but it didn't make an impression on me.
Reading the online comments is funny - *love it* *hate it* *fabulous* *cheesy*. Notes said it is one of the few movies never to have been released on home video, lol. Guess I'll have to keep an eye out for it some other way!
There you go. Too good for home rental!