Travel
LVMH Extends Its Bet on Luxury Hospitality With Fontenille Deal
- Arnault’s group buys minority stake in French hotel chain
- Hotel investment comes amid wider luxury demand slowdown
LVMH is betting on a small but high-end French hotel group with properties in tourist hot spots like Tuscany and Minorca for its latest expansion in the world of luxury travel.
LVMH Moët Hennessy Louis Vuitton SE has bought a stake of about 20% in Les Domaines de Fontenille, according to a person familiar with the transaction who declined to provide the entity’s value. While LVMH and Les Domaines de Fontenille announced the investment in a statement, they declined to comment on the stake size. Anaïs Ventures SA, the Geneva-based investment company of the Firmenich family, also took a minority stake in the business, according to the statement.