Belmond to LVMH

UPMARKET river cruise, hotel and train operator Belmond has been purchased by luxury goods maker LVMH for US$3.2 billion.

LVMH, which has brands including Louis Vuitton, Moet and Bvlgari Hotels, will move further into the high-end travel and hospitality sector through the deal, with spokesman Jean-Jacques Guiony saying the company planned to develop and improve the profitability of the Belmond portfolio “and nurture complementarity with the LVMH group brands”.

LVMH expects to complete the transaction H1 2019 pending shareholder approval.

Belmond operates river cruise vessels in France and Myanmar as well as luxury hotel barges in France.