LVMH just bought some of the world's most luxurious hotels

One of the biggest luxury brands is buying some of the world's most luxurious hotels and restaurants....

Posted: Dec 14, 2018 12:41 PM
Updated: Dec 14, 2018 12:41 PM

One of the biggest luxury brands is buying some of the world's most luxurious hotels and restaurants.

France's LVMH (LVMUY), which owns iconic brands like Louis Vuitton, Christian Dior and Dom Pérignon, will take over the Belmond hotel group in a deal valued at $2.6 billion, it announced Friday.

Business and industry sectors

Business, economy and trade

Companies

Consumer products

Leisure and lifestyle

Luxurious living

Luxury goods

LVMH

Cruises

Hotels and motels

Lodging

Tourism

Travel and tourism

The acquisition gives LVMH control of 46 hotels, restaurants and luxury trains and cruises across 24 countries. The portfolio includes the Hotel Cipriani in Venice and the 21 Club in New York, a storied Manhattan restaurant which reportedly counts President Donald Trump and US Treasury Secretary Steven Mnuchin among its regulars.

"This acquisition will significantly increase LVMH's presence in the ultimate hospitality world," LVMH CEO Bernard Arnault said in a statement. LVMH already owns some high-end properties like the Cheval Blanc and Bulgari hotel chains.

Investors in LVMH reacted with caution to the news — the luxury group's shares fell 1.3% in Paris on Friday morning. Belmond's shares, on the other hand, soared 39% in premarket trading.

Acquiring Belmond will give the French conglomerate access to a far wider portfolio of luxury experiences, including the iconic Orient Express and Royal Scotsman trains as well as luxury cruises in France.

But the biggest attraction will likely be the Cipriani, the 96-room Venice hotel with Michelin-star restaurants that Belmond acquired 40 years ago. The hotel played a starring role in George and Amal Clooney's celebrity-filled wedding in 2014.

The deal is expected to be completed in the first half of 2019, subject to approval from shareholders and regulators.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 482902

Reported Deaths: 9425
CountyCasesDeaths
Harrison33063488
Hinds31021589
DeSoto30610358
Jackson23687348
Rankin21340370
Lee14909220
Madison14166271
Jones13404227
Forrest13160240
Lauderdale11601305
Lowndes10443176
Lamar10214130
Pearl River9098221
Lafayette8241137
Hancock7514112
Washington7102150
Oktibbeha6964124
Monroe6514164
Neshoba6475201
Warren6464164
Pontotoc630393
Panola6250126
Marshall6126123
Bolivar6115144
Union574186
Pike5613136
Alcorn537290
Lincoln5303131
George471472
Scott459196
Leflore4476140
Prentiss446779
Tippah446480
Itawamba4444100
Adams4416116
Tate4394101
Simpson4335112
Wayne433066
Copiah431787
Yazoo423386
Covington415792
Sunflower4148104
Marion4099104
Leake397586
Coahoma3957100
Newton370875
Grenada3556104
Stone350860
Tishomingo336289
Attala325387
Jasper314162
Winston304691
Clay296473
Chickasaw287065
Clarke282190
Calhoun266141
Holmes262187
Smith250649
Yalobusha221047
Tallahatchie220450
Walthall211058
Greene209045
Lawrence206833
Perry199953
Amite198452
Webster196542
Noxubee178939
Montgomery172454
Jefferson Davis168342
Carroll162137
Tunica153334
Benton142535
Kemper138640
Choctaw127026
Claiborne126834
Humphreys126637
Franklin116728
Quitman103926
Wilkinson101936
Jefferson91333
Sharkey63020
Issaquena1926
Unassigned00

Alabama Coronavirus Cases

Cases: 787421

Reported Deaths: 14022
CountyCasesDeaths
Jefferson1114521765
Mobile708161234
Madison49744633
Baldwin36201495
Shelby36186315
Tuscaloosa33818548
Montgomery33135678
Lee22590220
Calhoun21140410
Morgan19795335
Etowah19188462
Marshall17659274
Houston16788386
St. Clair15408305
Cullman14568258
Limestone14553188
Elmore14444264
Lauderdale13486281
Talladega12932236
DeKalb12174237
Walker10561330
Blount9693157
Autauga9652137
Jackson9363158
Coffee8847175
Dale8584173
Colbert8508184
Tallapoosa6661181
Escambia6585121
Covington6432167
Chilton6372144
Russell605355
Franklin5779101
Chambers5398134
Marion4789120
Dallas4694189
Clarke462279
Pike461597
Geneva4396117
Winston425295
Lawrence4112108
Bibb408581
Barbour346570
Marengo326285
Butler318190
Monroe318153
Randolph305256
Pickens304474
Henry301358
Hale292285
Cherokee289455
Fayette279073
Washington245248
Crenshaw237970
Cleburne235251
Clay228365
Macon219258
Lamar196243
Conecuh181846
Lowndes170758
Coosa169935
Wilcox159736
Bullock149243
Perry136437
Sumter124436
Greene121243
Choctaw73427
Out of AL00
Unassigned00
Tupelo
Clear
63° wxIcon
Hi: 84° Lo: 58°
Feels Like: 63°
Columbus
Partly Cloudy
62° wxIcon
Hi: 85° Lo: 55°
Feels Like: 62°
Oxford
Clear
59° wxIcon
Hi: 82° Lo: 55°
Feels Like: 59°
Starkville
Partly Cloudy
62° wxIcon
Hi: 84° Lo: 56°
Feels Like: 62°
While some cool mornings are again in store for the weekend, afternoons start to warm up a bit, so plan on dressing in layers if you're heading to the MSU or Bama games, because you'll need to utilize them in different ways.
WTVA Radar
WTVA Temperatures
WTVA Severe Weather