After eight months of negotiations, the LVMH group has closed the deal to acquire the Belmond Urio Castle on Lake Como.
A new luxury Belmond property
The castle was built in the 16th century and is now owned by Opus Dei. The value of the deal, including renovation, is said to be in the range of €50 to 100 million. The French company now intends to transform the complex on Lake Como, which includes 180 metres of waterfront and covers an area of 4.6 hectares, into a luxury property under the Belmond brand.
The LVMH
The property would thus join the hotels that are already part of the LVMH house brand's portfolio in Italy, including the Cipriani in Venice, the Splendido in Portofino and the Villa Sant'Andrea in Taormina. The group's pipeline in Italy also includes the Romazzino and Pitrizza on the Costa Smeralda, which will be rebranded Belmond and Cheval Blanc respectively between 2024 and 2026, as well as the further openings of Villa Beatrice in Portofino and Belmond Masseria le Taverne in Ostuni.
