LVMH completed the acquisition of Belmond for $3.2bn.

LVMH Moet Hennessy Louis Vuitton and Belmond, owners, part-owners or managers of 46 luxury hotel, restaurant, train and river cruise properties, completed a definitive agreement for LVMH to acquire Belmond for $3.2bn. “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 complementary to our own Cheval Blanc maisons and the Bvlgari hotels activities. This acquisition will significantly increase LVMH’s presence in the ultimate hospitality world.” Bernard Arnault, LVMH Chairman and CEO.