By the Caribbean Journal staff

In a move sure to shake up the global luxury hotel market, luxury group LVMH Moët Hennessy Louis Vuitton has announced an agreement to acquire hotel brand Belmond.

The purchase of Belmond shares represented an equity value of $2.6 billion, in a transaction with an enterprise value of $3.2 billion.

Belmond operates a substantial portfolio of both hotels and luxury travel adventures, with properties in 24 countries.

Belmond is the former Orient-Express Hotels, which was rebranded in 2014.

The company was established more than four decades ago with the acquisition of the Hotel Cipriani in Venice.

Belmond La Samanna in St Martin.

That includes Belmond’s already-strong Caribbean presence, with the Belmond La Samanna in St Martin; the Belmond Cap Juluca and the Belmond Maroma on the Caribbean coast of Mexico.

“Belmond delivers unique experiences to discerning travelers and owns a number of exceptional assets in the most desirable destinations. Its heritage, its innovative services, its excellence in execution and its entrepreneurship resonates well with the values of the Group and is complementary to our own Cheval Blanc maisons and the Bvlgari hotels activities. This acquisition will significantly increase LVMH’s presence in the ultimate hospitality world.”

Belmond Maroma in the Riviera Maya.

The deal significantly expands what had been a comparatively tiny hotel portfolio for LVMH centered on the “Cheval Blanc” brand — one that includes the Cheval Blanc St Barth Isle de France in St Barth. That property remains shuttered in the wake of Hurricane Irma, though it is now taking bookings for the first week of January, according to its Web site. 

In a statement, LVMH said the deal would “significantly increase its presence in the ultimate luxury hotel world.”

The Cheval Blanc St Barth Isle de France.

“Belmond has a seasoned management team and is an ideal complement to the Cheval Blanc masions, renowned for their exceptional service, architecture and unique gastronomy,” LVMH said in a statement.

“Following a strategic review that attracted broad and deep interest from a wide range of real estate and lodging companies, sovereign wealth institutions and other financial buyers around the world, the Board has concluded that this transaction with LVMH provides compelling and certain value for our shareholders as well as an exciting path forward with a group that appreciates Belmond’s irreplaceable assets and strong management team,” said Chairman of the Board of Directors of Belmond Ltd Roland Hernandez.

— CJ

The post LVMH Is Buying Belmond for $3.2 Billion in Luxury Hotel Market Shakeup appeared first on Caribbean Journal.

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By the Caribbean Journal staff

Two new Memories-branded hotels have officially debuted in Punta Cana, Dominican Republic.

Canadian travel giant Sunwing has announced the opening of the new Grand Memories Splash and the Grand Memories Punta Cana.

The new Tex-Mex eatery.

The two new properties replace the former Memories Splash resort, with renovated rooms and upgraded amenities, according to the company.

Sunwing says the Grand Memories Punta Cana “offers a more refined and sophisticated ambiance,” with new sun loungers and “Bali” beds, along with a sports bar and an arcade.

A room at Grand Memories Splash.

The Grand Memories Splash is aimed at families with kids, with guests getting unlimited access to the resort’s wave pool, seven slides and splash pad, along with dining options like a Mexican Cantina and a seafood spot.

Guests at both hotels have access to the nearby beach at Sunwing’s Royalton Punta Cana.

— CJ

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… since Hurricane Maria hit Puerto Rico in September 2017, solar … across an ocean. Solarize Puerto Rico project manager Mario Pozzo … Uniendo al Mundo that Solarize Puerto Rico plans to implement. ( … sponsoring and settling a Puerto Rican family who came to …

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GENEVA, Switzerland — Antigua and Barbuda has officially intervened in the ongoing discussions concerning the reform of the Dispute Settlement Understanding of the World Trade Organisation (WTO). This intervention was made by the country’s permanent representative, Colin Murdoch, during the December sitting of the organisation’s General Council (GC) meeting, Antigua News Room reported. In his […]

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NEW YORK, USA — Haiti is “laden with challenges, but also hope”, the head of the UN mission in the country told the Security Council on Wednesday, against the backdrop of ongoing political unrest in the Caribbean country. Triggered by violent demonstrations and numerous allegations of government mismanagement of public funds, and “worrying episodes” of […]

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