French luxury brand LVMH, whose portfolio includes brands ranging from Louis Vuitton, Christian Dior, and Fendi to Hennessy and Dom Pérignon, will soon have a range of new luxury hotels, cruises, and train excursions under its belt.
The luxury brand is acquiring Belmond, which is noted for its portfolio of 46 luxury hotels, train and cruise itineraries across 24 countries for a deal valued at $3.2 billion with an equity value of $2.6 billion.
The new acquisition will bring Belmond's famed hotels, such as the Copacabana Palace in Rio de Janeiro and the Hotel Cipriani in Venice, under LVMH’s portfolio. Belmond is noted for properties located in mesmerizing locations, like the Hotel das Cataratas in the Iguazú National Park and the Belmond Eagle Island Lodge, on a private island in the heart of the Okavango Delta.
The new deal will also bring Belmond's luxury trains, which include renowned selections like the Venice Simplon-Orient Express, the Belmond Royal Scotsman, and the Belmond Andean Explorer (South America’s first luxury sleeper train), to LVMH.
“Belmond delivers unique experiences to discerning travelers and owns a number of exceptional assets in the most desirable destinations; its heritage, its innovative services, its excellence in execution and its entrepreneurship resonates well with the values of the group and is complimentary to our own Cheval Blanc maisons and the Bvlgari hotels activities,” LVMH CEO Bernard Arnault said in a statement.
LVMH's luxury properties include its Cheval Blanc collection, which offers stays at one-of-a-kind maisons with personalized service and amenities like in-room saunas. Belmond's additions will bring a slew of new memorable experiences for travelers to enjoy.
The deal is set to close in the first half of 2019, pending approval from Belmond’s shareholders.