Here's some more thoughts to help muddy things up:
240 is not a standard voltage for a US motor. 240 is a standard nominal US distribution voltage, but utilization loads, like motors, are usually rated at 220 to account for voltage drop. (same goes for 120 -- that's a standard nominal US distribution voltage, but utilization equipment is usually rated at 110 or 115 volts). Can you verify the voltage rating of the motor is truely 240?
208-volt distribution is also very common here. And I've often successfully run 220 volt motors on 208, no problem, and nothing special on the installation -- EXCEPT -- these were typically industrial-grade 1.15 service factors motors, TEFC (totally-enclosed fan-cooled), premium efficiency. You might not get such pleasant results with lesser-grade motors.
50 vs 60 hz would seem to be your #1 concern. Lots of information on derating 60 hz motors to 50 hz operation is available elsewhere here on eng-tips.
Interesting notes about the European voltage changes, I hadn't heard of that before. Every GB installation I've ever seen has been 415/240 -- although admittedly they have all been 10+ year old facilities.