In the most blockbuster travel-related news, the world's leading luxury group LVMH will buy Belmond for $2.6 billion dollars.
For those who love luxury, this is the kind of brand-alignment you dream of. LVMH owns, Louis Vuitton (among so many others), and Belmond are part-owners or managers of 46 luxury hotel, restaurant, train and river cruise properties -- Belmond also owns Hotel Cipriani in Venice, Belmond (aka where George and Amal Clooney married), and Belmond also owns Hotel Splendido in Portofino, Copacabana Palace in Rio de Janeiro, Le Manoir aux Quat'Saisons in Oxfordshire, Grand Hotel Europe in St. Petersburg, Maroma Resort & Spa in Mexico, Hotel das Cataratas in the Iguassu National Park in Brazil, and Cap Juluca in Anguilla.
Through this acquisition, LVMH will significantly increase its presence in the ultimate luxury hotel world. Synonymous with history, heritage and timeless experiences, Belmond has a seasoned management team and is an ideal complement to the Cheval Blanc masions, renowned for their exceptional service, architecture and unique gastronomy. Bernard Arnault, Chairman and Chief Executive Offer of LVMH (also the richest man in France), stated: “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. This acquisition will significantly increase LVMH’s presence in the ultimate hospitality world.”
Roland Hernandez, Chairman of the Board of Directors of Belmond Ltd, added: “Following a strategic review that attracted broad and deep interest from a wide range of real estate and lodging companies, sovereign wealth institutions and other financial buyers around the world, the Board has concluded that this transaction with LVMH provides compelling and certain value for our shareholders as well as an exciting path forward with a group that appreciates Belmond’s irreplaceable assets and strong management team.”
Finally, Roeland Vos, Belmond’s President and Chief Executive Officer, stated: “Today’s announcement is the result of the strong execution of our strategic vision that 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.”