Louis Vuitton Has Luxury Travel in the Bag with $3.2 Billion Belmond Deal
The luxury fashion firm LVMH, holder of Louis Vuitton and Christian Dior, has continued its way into the luxury travel industry with a purchase of the upscale hotel and leisure company, Belmond.
While continuing to offer its iconic luxury products globally, the once primarily fashion-driven company has set its eyes on the industry of Luxury travel as higher-end clientele look to invest more in worldly experiences.
The $3.2 billion attainment of the iconic hotel brand and its properties (with LVMH offering $25 per share) includes the only hotel within the sacred citadel of Machu Picchu in Peru as well as numerous world-renowned hotels, restaurants, and cruises all over the globe. The purchase also includes the opulent Orient Express connecting much of Europe and South America’s first luxury sleeper train, the Belmond Andean Explorer.
“We are confident that, as part of LVMH’s world-class family of brands, Belmond’s ability to deliver timeless, one-of-a-kind luxury experiences will reach new levels,” said Roeland Vos, Belmond’s president and chief executive.
Driven majorly by the maturing Millennial consumers, the experience economy is undergoing a boom within recent years as consumers seek to spend on experiences opposed to products. Along with an increase of high net-worth individuals with a distinguished demand of gourmet food and wines, wealthy consumers seek out only top of the line providers in those businesses.
The takeover, set to take place at the beginning of 2019, will expand LVMH’s portfolio of luxury accommodations alongside Cheval Blanc hotels throughout France, and the Bulgari Hotel and Resorts chain.
We are confident that, as part of LVMH’s world-class family of brands, Belmond’s ability to deliver timeless, one-of-a-kind luxury experiences will reach new levels
Our Travel Consultants are excited to see how LVMH will further improve the luxury travel world and to provide Yampu Travelers with even higher-end experiences in their personalized trips.
What are your thoughts on luxury brands like LVMH moving into the hospitality and tourism industry? Tell us below in the comments.
Looking for the latest travel news, tips, tricks, and inspiration? Join our newsletter!