Bernard Arnault, Chairman and Chief Executive Officer of LVMH Moët Hennessy Louis Vuitton, announced that LVMH and Belmond Ltd., owners, part-owners or managers of 46 luxury hotel, restaurant, train and river cruise properties, have entered into an agreement for LVMH to acquire Belmond.
LVMH, the world’s largest luxury goods company, will take over Belmond in a deal valued at $2.6 billion. The transaction is expected to complete in the first half of 2019.
Established over 40 years ago with the acquisition of Hotel Cipriani in Venice, Belmond owns and operates a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring destinations in 24 countries.
Belmond’s iconic properties include hotels like Hotel Cipriani in Venice, Hotel Splendido in Portofino, Copacabana Palace in Rio de Janeiro and Grand Hotel Europe in St. Petersburg. We recall that in 2015 Belmond sold its stake in historic Hotel Ritz Madrid, which will be reopened in 2019 by Mandarin Oriental Hotel Group.
France's LVMH already has hotels in its portfolio, including Cheval Blanc and Bvlgari hotel chains.
“This acquisition will significantly increase LVMH’s presence in the ultimate hospitality world,” said Bernard Arnault. “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,” added CEO of LVMH.
The Leading Hotels of the World, a consortium of more than 400 luxury hotels in over 80 countries, unveiled its renovated Leaders Club loyalty programme. The redesign was inspired by current members’ interests and resulted to a more flexible Leaders Club programme that recognizes and rewards members for their loyalty and provides upgraded benefits and exclusive access to the portfolio’s hotels worldwide.
The history of this truly mysterious place dates back to the foundation of Saint Petersburg. Once the first renovation stage was finally over, the New Holland’s park zone welcomed first guests in August 2016, while from then onwards the island will remain accessible the whole year round.
Second part of our travel to Vancouver. We will talk about sights and interesting places.
Crowne Plaza hotel in the capital of Belgium, the city of Brussels. The hotel is located within the central area of the city and in close proximity to the railroad station metro stations.