With the acquisition of Hotel Saint-Barth Isle de France, the LVMH Group (Moet Hennessy Louis Vuitton SA) has added another hotel to its growing portfolio of luxury properties. The five-star hotel - situated on Flamands Beach on the sexy French Caribbean isle of St. Barths-- joins the existing Cheval Blanc resort in Courchevel and Cheval Blanc Randheli, which will soon open in the Maldives. (La Samaritaine, the landmark Paris department store, is currently undergoing a transformative construction project which will result in a Cheval Blanc luxury hotel and apartments.)
As reported by Vogue, the Hotel Saint-Barth Isle de France was purchased from majority owner Adventurous Journeys Capital Partners. The boutique property has 40 rooms and suites set in tropical gardens overlooking the sea.
Bloomberg Businessweek describes the purchase as part of a “summer spending spree” on the part of French billionaire Bernard Arnault, the company’s chairman, who also bought a Milanese café and Italian cashmere clothier Loro Piana SpA. Like Armani, Versace, and Missoni, LVMH is diversifying by expanding into the hospitality sector. For more information, visit www.chevalblanc.com.