Louis Vuitton to venture into hotel business
Published by Irhal
April 9 -French luxury goods giant Moet Hennessy Louis Vuitton (LMVH) has announced that it is entering the business of managing upscale hotels and already has plans to make its presence felt with two exclusive hotels in Egypt and Oman. Louis Vuitton will take into account the experience of Group Arnault, LVMH Chairman and Chief Executive Bernard Arnault's holding company, which entered the hospitality market…
Louis Vuitton will take into account the experience of Group Arnault, LVMH Chairman and Chief Executive Bernard Arnault's holding company, which entered the hospitality market in 2006 with its five-star Cheval Blanc hotel in the French Alps.
LMVH will develop the Cheval Blanc brand under its patronage that will operate on management contracts. The project is "a natural extension of activities in luxury hospitality with Cheval Blanc," LVMH said in a statement.
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