LVMH’s Cheval Blanc Hotel in Paris postponed for 2016
La Samaritaine, the former department store which LVMH is re-developing into an upscale mixed-use residential complex is not due to open before the end of 2016 due to the fact that two of the construction permits issued by the Paris Municipality have just been legally contested. The complex will include the first Cheval Blanc Hotel in Paris (72 rooms and suites), 26.000 sqm retail and 20.000 sqm A class offices. The investment is estimated at 450 million euros, sustained entirely by LVMH.
This comes as a major blow for LVMH Hospitality, considering that the Paris opening would have been the first flagship of the Cheval Blanc chain (first Cheval Blanc has been operating in Courchevel), its opening was about to be followed by other openings.