LVMH buys Hotel Saint-Barth Isle de France
PARIS–LVMH Moet Hennessy Louis Vuitton SA Wednesday said it has purchased Hotel Saint-Barth Isle de France in the Caribbean, the latest in a series of acquisitions by the world’s largest luxury group.
LVMH said that it bought the hotel, located at the seafront on the island of Saint Barthelemy in the French West Indies, from majority owner Adventurous Journeys Capital Partners and others for an undisclosed sum.
The company described the move as “a natural extension of LVMH’s activities across the luxury spectrum,” in a statement.
The deal comes hot on the heels of two other purchases by the luxury giant and underscores the wide-ranging scope of the company’s luxury interests. Earlier this month it paid 2 billion euro ($2.66 billion) for a majority stake in fine-wool retailer Loro Piana and bought high-end pastry maker Pasticceria Confetteria Cova Srlfor an undisclosed amount in late June.
Though LVMH’s sales are dominated by its fashion and leather good’s division– which made up around 35% of its EUR28.1 billion revenue in 2012–, the industry leader has developed a broad portfolio of high-end businesses over the years. The company counts among its labels, names such as high-end jeweller Bulgari, watch-maker TAG Heuer and champagne brands Moet & Chandon and Dom Perignon.
LVMH said the Hotel Saint-Barth Isle de France will be operated by the company’s hotel’s division, home to the Cheval Blanc in Courchevel–one of France’s most exclusive holiday resorts– and White 1921 hotel in Saint Tropez on the French Riviera. The division is also currently working on the development of another resort, Maisons Cheval Blanc in the Maldives.
“Given LVMH’s global-leadership in the luxury industry, it is well-positioned to attract travelers from around the world to its properties,” said LVMH.
The Hotel St Barth Isle, located on Flamands Beach close to the island’s main town Gustavia, is a five-star offering with 39 rooms. According to the hotel website, the cost for a one night stay range from EUR510 to several thousand euros.