Luxury conglomerate LVMH MoÃ«t Hennessy-Louis Vuitton SA has purchased Hotel Saint-Barth Isle de France from majority owner Adventurous Journeys Capital Partners for an undisclosed price.
LVMH purchased the hotel on the French West Indies island of St. Barth, a popular vacation spot for the wealthy, as part of "a natural extension of LVMH's activities across the luxury spectrum," the company said in a statement.
LVMH has been working to widen its scope in a range of luxury businesses. Last year, 35 percent of the company's â¬28.1 billion revenue was generated from the company's fashions and leather good's division. Recent transactions include the $2.66 billion paid last month for a majority stake in fine-wool retailer Loro Piana and the purchase of high-end pastry maker Pasticceria Confetteria Cova Srl in June for an undisclosed amount, according to the Wall Street Journal.
Over the years, LVMH has expanded its portfolio to include labels such as high-end jeweler Bulgari, watchmaker TAG Heuer and champagne brands Moet & Chandon and Dom Perignon.
The LVMH Hotel Management division will operate the 39-room Hotel Saint-Barth Isle de France. The hotel, located on Flamands Beach, includes the Isle de France Spa and the restaurant Las Case d'Isle, according to the hotel website.
The hotel division's portfolio includes the Cheval Blanc in Courchevel, the White 1921 hotel in Saint Tropez on the French Riviera and the Maisons Cheval Blanc, which is in development in the Maldives.
Next year the company is expected to open the Cheval Blanc Samaritaine in Paris, located in the 1933 Art Deco building of the historic Parisian department store La Samaritaine.