Today Belmond announced that it will be acquired by LVMH Moet Hennessy Louis Vuitton, a leading luxury group. The transaction is expected to be completed in the first half of 2019 subject to the approval of Belmond’s shareholders and clearance by the relevant competition authorities
“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,” says Roland Hernandez, chairman of the Board of Directors of Belmond Ltd. in press materials.
Established over 40 years ago with the acquisition of Hotel Cipriani in Venice, Belmond owns and operates a global collection of hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. The company operates in 24 countries with its distinctive portfolio of 46 hotel, rail and river cruise experiences.
Belmond’s properties include hotels like Hotel Cipriani in Venice, 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. Legendary trains, such as the Venice Simplon-Orient-Express and Belmond Royal Scotsman, plus cruises such as Belmond Afloat in the France fleet and the Belmond Road to Mandalay, complete a portfolio that offers extraordinary experiences with curated activities and a personal service to a globally-diverse, highly refined customer.
“Belmond delivers unique experiences to discerning travelers and owns a number of exceptional assets in the most desirable destinations,” says Bernard Arnault, Chairman and Chief Executive Offer of LVMH in press materials. “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.”