Belmond is acquired by LVMH in $3.2 billion deal

Amy Horsfield By Amy Horsfield
17 December 2018 | Updated 20 December 2018

UK: LVMH has entered an agreement to acquire Belmond for $25.00 per Class A share in cash.

Bernard Arnault announced that LVMH Moët Hennessy Louis Vuitton and Belmond Ltd., owners, part-owners or managers of 46 luxury hotel, restaurant, train and river cruise properties, have entered into a definitive agreement for LVMH to acquire Belmond for $25.00 per Class A share in cash. 

LVMH currently owns three Cheval Blanc properties, called Maisons, in the ski resort of Courchevel, the Maldives and St. Barth's, and a group of Bvlgari hotels.

When commenting on the acquisition this morning LVMH, owner of such luxury fashion brands as Dior, Vuitton, Loro Piana and Fendi, said the company saw future growth in the luxury sector coming not only from goods, but also from high-end experiences and Belmond's holdings will certainly provide that.

Launched over 40 years ago, Belmond now operates in 24 countries. Their properties include the Hotel Cipriani in Venice, the Hotel Splendido in Portofino, the Copacabana Palace in Rio de Janeiro, Le Manoir aux Quat'Saisons in Oxfordshire, Grand Hotel Europe in St. Petersburg, Maroma Resort & Spa in Mexico and Cap Juluca in Anguilla.

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