LVMH splashes out on luxury hotels with $3.2 billion Belmond deal
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PARIS (Reuters) - Luxury goods maker LVMH has agreed to buy Belmond, the owner of hotels including Venice's landmark Cipriani, for $3.2 billion (2.54 billion pounds) including debt to increase its presence in upmarket hospitality. LVMH, the firm behind fashion labels Louis Vuitton and Christian Dior, already has hotels including the Cheval Blanc in the prestigious Courchevel ski resort in the French Alps, as well as Bvgalri hotels.The Belmond deal will give it properties including the only hotel..