LVHM takes over Belmond Group

Belmond hotel Lead

LVHM announced an agreement to acquire Belmond the luxury travel and hospitality company.

LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury group and Belmond Ltd., owners, part-owners, or managers of 46 luxury hotel, restaurant, train, and river cruise properties, jointly announced that they have entered into a definitive agreement for LVMH to acquire Belmond.

Through this acquisition, LVMH will significantly increase its presence in the ultimate luxury hotel world. Synonymous with history, heritage and timeless experiences, Belmond has a seasoned management team and is an ideal complement to the Cheval Blanc maisons, renowned for their exceptional service, architecture, and unique gastronomy.

Established over 40 years ago with the acquisition of Hotel Cipriani in Venice, Belmond owns and operates a global collection of exceptional hotel and luxury travel adventures in some of the world’s most inspiring and enriching destinations. The company operates in 24 countries with its unique and distinctive portfolio of 46 hotel, rail, and river cruise experiences.

Belmond’s iconic 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 and exceptional cruises such as Belmond Afloat in France fleet and Belmond Road to Mandalay, complete a portfolio that offers extraordinary experiences with curated activities and an understated personal service to a globally-diverse, highly refined customer.

LVMH will acquire Belmond for $25.00 per Class A share in cash. This represents an equity value of $2.6 billion in a transaction with an enterprise value of $3.2 billion. The transaction is expected to complete in the first half of 2019 subject to the approval of Belmond’s shareholders and clearance by the relevant competition authorities.

 

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