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Luxury giant LV to Belmond $2.6 billion deal to buy luxury hotel group parent company

Date: 2018-12-19

According to the Wall Street journal reported that the French luxury giant LVMH, Louis vuitton group will be as high as $2.6 billion Belmond British luxury hotel group.

Data show: Belmond was founded in 1976, formerly known as the Orient Express group (orient-express Hotels), renamed in 2014.At present, Belmond 24 countries around the world have 46 high-end Hotels, including Italy on amalfi coast Hotel Caruso and st Petersburg European Hotel (Grand Hotel Europe), group in 2017 total data show: Belmond was founded in 1976, formerly known as the Orient Express group (orient-express Hotels), in 2014 changed its name.At present, Belmond 24 countries around the world have 46 high-end hotels, including Italy on amalfi coast Hotel Caruso and st Petersburg European Hotel (Grand Hotel Europe), group in 2017 total revenue of $561 million.In addition to the hotel business, Belmond owns the 21 club in New York, French cruise ships, London underground bar - Venice line trains and wildlife camp, Botswana's business mainly covers hotels, trains, ships, dining-room 4 large section.

The Wall Street journal quoted people familiar with the reports, LVMH agreed to a $25 per share, cash acquisition Belmond, this means that the Belmond Thursday's closing price on the basis of a 42% premium.

The Wall Street journal, said the two sides may be in the local time Friday to reach an agreement at the earliest.

Belmond spokesman declined to comment, LVMH has failed to get in touch.

In August of this year, Belmond said it had hired Goldman sachs and jp Morgan strategic assessment.In November, Belmond chairman Roland Hernandez says the assessment of "strict", but the management because of the interest on the third party company.

Since August 8, Belmond surged 58%, had reached its highest level since 2008.The New York stock market closing price Thursday to $17.65 a share.

Louis vuitton fashion brands, which owns LVMH and Dom Perignon champagne brand, is the last winner of the deal.According to people familiar with the matter said in October, for full or partial Belmond offer buyers including private-equity firms KSL Capital Partners LLC, blackstone group co., LTD., private equity KKR&Co Ashkenazy and private real estate investment company Acquisition Corp.

In fact, as early as April 2010, LVMH was announced formally established Hotel Management company LVMH Hotel Management.

Was the group's announcement said, LVMH is to "meet the customer demand for explore the memorable destination and enjoy the unique experience, and with the help of many industry synergies, maximize group brand value and long-term development in the field of high-end luxury hotel".

Time to push again, in 2008, has set up a special team of moet hennessy Louis vuitton (LVMH), to study French luxury hotel brand Cheval Blanc, including its wine tube team-building, partner selection and sales strategy deployment, the visual image, etc.LVMH group, says its goal is from concept to daily operation control good luxury hotel service mode.

In 2011, Louis vuitton group bought the Italian luxury brand Bulgari, which also created a joint venture with marriott group, create a Bulgari hotels and resorts.The bulgari hotel for Beijing and Shanghai in China.