LVMH Moët Hennessy Louis Vuitton has plans to acquire London-based luxury hotel brand Belmond Group for €2.8 billion ($3.2 billion).
Belmond entices its wealthy customers with sumptuous experiences. It owns and operates 46 hotel, restaurant, train and river cruise properties in 24 countries, expanding LVMH into the experiential high-end travel and hospitality sector.
The deal is expected to close in the first half of 2019.
The “acquisition will significantly increase LVMH’s presence in the ultimate hospitality world,” said Bernard Arnault, LVMH CEO and chairman, in a statement. “Belmond delivers unique experiences to discerning travelers 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.”
LVMH, th
