French luxury goods group Louis Vuitton Moet Hennessy – LVMH stated recently that it had reached a contract to purchase hotel group Belmond, who properties include Cipriani in Venice, Copacabana Palace in Rio de Janeiro, Cheval Blanc in the prestigious Courchevel ski resort in the French Alps, as well as Bvgalri hotels in a trade worth 3.2 Billion USD.
Belmond started over 4 decades ago with the acquisition of Hotel Cipriani in Venice. It currently owns and manages a range of over 46 luxury hotels, restaurants and all around the Globe as well as providing river and rail cruises.
This acquisition will widely boost LVHM’s presence in the final hospitality world, stated LVHM’s CEO Bernard Arnault. He delivers a sole experience to discerning travelers and holds a range of incredible assets in most desirable venues, he added.