Louis Vuitton and Glenmorangie owner LVMH is to buy luxury hotel and travel company Belmond for $3.2 billion (£2.54bn), concluding a sales process that attracted interest from a range of high-profile bidders.
Belmond said it had received “broad and deep interest” from several potential buyers after it announced a strategic review in August.
The group runs a portfolio of hotels, cruises, safaris and trains. In the UK this includes Raymond Blanc’s Oxfordshire hotel and restaurant Le Manoir and luxury train services British Pullman and Royal Scotsman.
Roland Hernandez, chair of the board of Belmond, said: “Following a strategic review that attracted broad and deep interest from a wide range of real estate and lodging companies, sovereign wealth institutions and other financial buyers around the world, the board has concluded that this transaction with LVMH provides compelling and certain value for our shareholders.”