LVMH Moët Hennessy Louis Vuitton (LVMH) is increasing its presence in the luxury hospitality realm with the acquisition of Belmond Ltd. The two luxury brands announced today the agreement for LVMH to acquire Belmond, in a transaction with an enterprise value at $3.2 billion.
“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,” says Roeland Vos, president and CEO of Belmond. “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.”
Through the acquisition, LVMH will significantly increase its place in the luxury hotel world. Belmond owns, co-owns, operates, and manages a global collection of luxury hotel, restaurant, train, and river cruise properties curated over the last 40 years. To date, the portfolio contains 46 brands across 26 countries worldwide.
Iconic properties previously managed by Belmond including Hotel Cipriani, Hotel Splendido, Copacabana Palace, Le Manoir aux Quat'Saisons, Grand Hotel Euopre, Maroma Resort & Spa, Hotel das Cataratas, and Cap Juluca will be managed by LVMH following the closing of the acquisition in early 2019. Train services including the Venice-Simplon-Orient-Express and Belmond Royal Scotsman, along with cruise brands including Belmond Afloat and Belmond Road to Mandalay are part of the acquisition as well.
“Belmond delivers unique experiences to discerning travelers and owns a number of exceptional assets in the most desirable destinations,” says Bernard Arnault, chairman and CEO of LVMH. “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.”