Riviera Maya, Q.R. — Luxury brand design company Louis Vuitton has entered into an acquisition to purchase a hotel in Mexico’s Riviera Maya.
The transaction will be with the corporate hotel Belmond Maroma Resort & Spa of Riviera Maya located opposite Maroma beach, one of the most beautiful and exclusive in the world.
The Louis Vuitton company, led by Bernard Arnault, will pay 25 Euro for each class A share of Belmond to purchase the Riviera Maya hotel. The acquisition is scheduled for the first half of 2019, once the Belmond shareholder council approves it.
Pending approval by Belmond’s shareholders and some competition authorities, the chairman of the board of Belmond, Roland Hernandez, stressed that “the offer of LVMH provides both a favorable assessment for shareholders and interesting development prospects.”
LVMH (Louis Vuitton Moët Hennessy) which already owns the Bulgari and Cheval Blanc hotel chains, is considered a boost of confidence to the tourism industry for Mexico.