175
175
  • Transaction / Assets
    Reid's Palace
  • Seller
    Belmond Group
  • Buyer
    LVMH
  • € MM
    2.832

LVMH Moët Hennessy Louis Vuitton Acquires Reid’s Palace in Madeira

18 April  2019 – Richard D. K. Turner

LVMH Moët Hennessy Louis Vuitton (LVMH), a French multinational conglomerate headquartered in Paris that has grouped a series of aspirational brands into a single luxury goods group, announced that it had acquired the luxury hotel Reid’s Palace as part of its acquisition of the Belmond Group. The 158-room hotel has four hectares of sub-tropical gardens, four restaurants, a spa and three pools.

The Belmond Group is a hotel and leisure company that operates luxury hotels, train services and river cruises around the world. The transaction, worth €2.832MM, was concluded in December and received shareholder approval in February.

Original Story: Diário Imobiliário