LVMH acquires luxury resort hotel ‘Isle de France’ in St Barth
According to Il Sole 24 daily, LVMH acquired earlier this week Hotel St.Barth Isle de France from U.S. based real estate fund AJ Capital Partners. LVMH will take over the management of the St Barth resort hotel (39 rooms, suites and villas) through its Hotel Management from German based Oetker Collection.
LVMH’s Hotel Management owns and operates Cheval Blanc Hotel in Courchevel, the White 1921 in St Tropez and is preparing for the opening of its first third party managed property in the Maldives, the Randheli Resort in November 2013. The group is currently developing Cheval Blanc Hotel Paris, postponed for 2015, in the former department store La Samaritaine. and has announced other future projects in Egypt and Oman.
In a statement to CPP-LUXURY.COM the Oetker Collection said: ‘A year ago, the Oetker Collection signed a fifteen-year management agreement with AJ Capital Partners and the Reverend Vere Nicoll for the management of Hotel Saint-Barth Isle de France in Saint Barthélémy. Under the Collection’s tenure, the shareholder value has seen an increase for more than 50% in a year. In 2013 Hotel Saint-Barth Isle de France has won numerous awards including being named to Condé Nast Travelers’ Gold List as Best Hotel in the Atlantic & Caribbean Islands and US News & World Report’s 2013 list of Best Hotels in the Caribbean. We regret that Hotel Saint-Barth Isle de France is no longer part of the Oetker Collection, where it had its rightful place. We truly extend our gratitude towards the employees for their dedication as well as to our loyal clients for their support in this project.’