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LVMH buys Belmond ($ 2.6 billion), the Cipriani Hotel in Venice switches hands

Posted: 18 December 2018

LVMH acquired Belmond for 2.6 billion dollars to strengthen its presence in the hotel industry.

Belmond has 46 luxury hotels in the world, including the Cipriani in Venice.

In the 12 months ended in September, Belmond recorded revenues of 572 million dollars and an adjusted ebitda of 140 million.