LVMH Acquires Hotel and Orient-Express Train Operator Belmond

By Anna Breuer on 17 April 2019
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IMG_7212 2LVMH Moët Hennessy Louis Vuitton said Tuesday that it had completed the acquisition of Belmond, a London-based hotelier.

The transaction, announced in mid-December, received approval from Belmond shareholders in February.

Under the terms of the $3.2 billion transaction, Belmond shareholders received $25 per Class A share.

The Paris-based company owns multiple fashion brands including Fendi as well as Dom Pérignon.

Founded as Orient-Express Hotels, Belmond has full or partial stakes in almost all of the 36 hotels that it manages, a list that includes Cipriani in Venice, the Grand Hotel Europe in St. Petersburg, and the Copacabana in Rio de Janeiro. As such, it is one of the last hotel operators to own most of the properties that it manages.

Belmond is also the operator of luxury trains including the Venice Simplon-Orient-Express and the Eastern & Orient Express in Kuala Lumpur and Singapore, a variety of river cruises, and the fabled 21 Club in New York City. The Venice Simplon-Orient Express uses original Compagnie Internationale des Wagons-Lits carriages from the 1920s and 1930s that were used on the original Orient Express route from Paris to Istanbul, which Belmond continues to operate in addition to the London-Venice service.

The hotelier recently announced that it had assumed management of the Cardogan Hotel in London, which will reopen in 2019 following a $48 million renovation project.

(Photo: Accura Media Group)

Accura News

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