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I had hoped, wanted, speculated that Belmond would end up being sold to Hyatt. I thought it matched their brand expansion and pivot to luxury leisure travel. I was wrong. It was announced earlier today that LVMH would buy the luxury hotelier for $25 a share or $2.6 Billion ( 42% premium over yesterday’s closing price). LVMH ( Louis Vuitton Moet Hennessy ) already owns and operates the Bulgari uber-lux brand with 6 properties sporting the name as well as the Cheval Blanc brand.
This is a double edged sword for this blogger. In a lot of ways I was hoping that it would be folded into Hyatt for personal reasons: namely it would be much easier to afford staying at such iconic properties as the Belmond Copacabana Palace if I could use points.
From a hotel aficionado perspective, I’m secretly excited to see what LVMH will do with the portfolio. LVMH doesn’t do anything half mast. Belmond’s hotel portfolio includes some absolutely stunning properties, and as a fan, LVMH will certainly maintain and restore those properties to their fullest grandeur.
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