The historic, famously-pink Belmond Mount Nelson Hotel in Cape Town will be handed over to a new owner in 2019.

LVMH, a world leader in luxury brands and goods, is taking ownership of Belmond, the hotel chain that owns the Mount Nelson among others.

In an official statement, the Belmond Mount Nelson Hotel said the transaction would be completed in the first half of 2019.

The hotel brand, Belmond will be purchased for an estimated whopping R46-billion ($3.2-billion). LVMH, a French company, owns renowned brands such as Louis Vuitton, Moët & Chandon and Christian Dior.

Belmond currently owns 46 brands of hotels, rail companies and river cruise businesses across the world, including Hotel Cipriani in Venice, Copacabana Palace in Rio de Janeiro and more.

Belmond’s President and Chief Executive Officer Roeland Vos explains that the new owners will take the luxury of the Mount Nelson to new heights.

“Today’s announcement is the result of the strong execution of our strategic vision that builds on our pioneering legacy and is an exciting development for all stakeholders, including our employees. We are confident that, as part of LVMH’s world-class family of brands, Belmond’s ability to deliver timeless, one-of-a-kind luxury experiences will reach new levels,” Vos says.

Opening its doors on March 6 1899, the ‘Nellie’, also called the ‘Pink Lady’ because of its entirely pink exterior, was the first hotel in South Africa to offer both cold and hot running water to its guests and is a popular destination for both locals and tourists.

Chairman and Chief executive officer of LVMH Bernard Arnault explains that the Belmond brand is a valuable investment for the company.

“Belmond delivers unique experiences to discerning travelers and owns a number of exceptional assets in the most desirable destinations. Its heritage, its innovative services, its excellence in execution and its entrepreneurship resonates well with the values of the Group and is complementary to our own Cheval Blanc maisons and the Bvlgari hotels activities. This acquisition will significantly increase LVMH’s presence in the ultimate hospitality world,” Arnault said.

Picture: Facebook/ The Belmond Mount Nelson Hotel

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