LVMH Is Acquiring Luxury Hotel Group Belmond for $3.2 Billion. Here’s Why / fortune.com

Home News LVMH Is Acquiring Luxury Hotel Group Belmond for $3.2 Billion. Here’s Why / fortune.com
LVMH Is Acquiring Luxury Hotel Group Belmond for $3.2 Billion. Here’s Why / fortune.com

External Article14 December 2018

Belmond Hotels

LVMH Moët Hennessy Louis Vuitton, the world leader in luxury goods, is acquiring London-based luxury hotel brand Belmond Group for $25 cash per share, a few bucks above its most recent stock closing price. That values Belmond’s equity at $2.6 billion, and the enterprise including debt at $3.2 billion.

Belmond Group (BEL), until 2014 known as Orient Express Hotels, owns such luxury hotel properties as the Copacabana Palace in Rio de Janeiro and the Hotel Cipriani in Venice. It also operates luxury cruises and train services.

LVMH (LVMHF) is the parent company of fashion houses including Christian Dior, Marc Jacobs, and Givenchy, as well as premium spirits, cosmetics, and fragrances. So far its hospitality business includes the Bulgari hotel brand and Cheval Blanc, a collection of luxury properties, and the purchase of Belmond will expand this business.

Read the full article at Belmond Ltd.