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18
Dec

LVMH expands in luxury hotel sector with Belmond deal

Luxury goods group Louis Vuitton Moët Hennessy (LVMH) revealed it has agreed to acquire Belmond in a deal worth $3.2bn to expand its presence in the luxury travel and experiences sector.

LVMH, which counts fashion labels Louis Vuitton, Christian Dior, Givenchy and Marc Jacobs in its portfolio, as well as brands such as Moët & Chandon, Dom Pérignon and Veuve Clicquot, already has hotels including the Cheval Blanc in the prestigious Courchevel ski resort in the French Alps, as well as Bvlgari hotels.

The acquisition, expected to close in the first half of 2019, will significantly increase its presence in the luxury hotel world.

Belmond owns, partly owns or manages 46 luxury hotels, restaurants and train and river-cruise properties located in exotic and distinctive destinations worldwide.

These include iconic properties such as Hotel Cipriani in Venice, Le Manoir aux Quat’Saisons in Oxfordshire, the Copacabana Palace in Rio de Janeiro and the only hotel within the Machu Picchu citadel in southern Peru, as well as the Venice Simplon-Orient-Express and Belmond Royal Scotsman trains.

The Royal Scotsman on the line from Perth to Inverness, Scotland

Bernard Arnault, Chairman and Chief Executive Offer of LVMH, said: “Belmond delivers unique experiences to discerning travellers and owns a number of exceptional assets in the most desirable destinations.

“Its heritage, its innovative services, its excellence in execution and its entrepreneurship resonates well with the values of the Group and is complementary to our own Cheval Blanc maisons and the Bvlgari hotels activities. This acquisition will significantly increase LVMH’s presence in the ultimate hospitality world.”

Roeland Vos, Belmond’s President and Chief Executive Officer, added that the deal: “builds on our pioneering legacy and is an exciting development for all stakeholders, including our employees. We are confident that, as part of LVMH’s world-class family of brands, Belmond’s ability to deliver timeless, one-of-a-kind luxury experiences will reach new levels.”

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