Luxury Group LVMH Acquiring Belmond
Category: Hotels, Posted:15 Dec 2018 | 06:00 am
Luxury brand LVMH has reached an agreement to buy the Belmond hospitality group.
Belmond which was formerly best known under the Orient Express moniker, is both an operator and in some cases full or partial owner of hotels.
They also have the famed 21 Club, Hotel Cipriani in Venice. safari camps, upscale train and river cruises.
LVHM’s hospitality platform is centered on Cheval Blanc and Bulgari, so the expanded portfolio opens up key brand extensions.
The deal has been valued at USD2.6 billion, and considering LVMH’s starpower in terms of branding, looks to have strong legs at the top level of the market.
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