Belmond Limited Explained

Belmond Ltd.
Former Name:Orient-Express Hotels Ltd
Type:Subsidiary
Parent:LVMH
Foundation:1976
Location:Hamilton, Bermuda[1]
Key People:Roeland Vos (Chairman)
Dan Ruff (CEO)
Industry:Hospitality
Services:Hotels, trains, cruises, restaurants
Revenue:US$ 576.84 million (2018)[2]

Belmond Ltd. (formerly Orient-Express Hotels Ltd) is a hospitality and leisure company that operates hotels, train services and river cruises and safaris worldwide.[3] In 2024, the company has 47 properties in 28 countries and territories, with 32 hotels, six tourist trains, seven river cruise boats and two safaris.

History

The company was founded in 1976 by the American entrepreneur James Sherwood with the acquisition of the Hotel Cipriani in Venice, Italy, from the Guinness family for £900,000. Sherwood then bought a number of carriages from the original Orient Express train, which he restored and used to offer rides from Paris and London to his hotel in Venice,[4] thus the former name of the company. Much of the history of the company is documented in Sherwood's memoir Orient Express: A Personal Journey.

On 10 March 2014, Orient-Express Hotels Ltd was renamed Belmond,[5] [6] [7] [8] and on 1 July 2014, Belmond's holding company was also renamed Belmond Ltd.[9]

In April 2015, Belmond partnered with Irish Rail to launch the train Belmond Grand Hibernian in Ireland.[10] In July 2016, Indian Hotels Company Limited sold most of its 5.1% stake in Belmond, retaining only 0.44% after the sale.[11]

In December 2018, the company agreed to be acquired by LVMH[12] in a $3.2 billion transaction which would delist the company from the New York Stock Exchange and make it 100% privately owned. The announcement of the sale led Belmond's share price to increase by 40% in a day.[13] The deal closed in April 2019.[14]

Belmond has continued to grow its portfolio in Italy. In September 2021, it acquired Villa Beatrice in Portofino.[15] In February 2023, the company announced an agreement with Sardegna Resorts S.r.l to manage Romazzino in Sardinia.[16]

It has also added a cluster of new properties in Mexico. In August 2023, Belmond re-opened Maroma following a redesign, in which ten beachfront suites were added.[17] In June 2023 it entered into an agreement with Cora Pacific Development to open Milaroca, a hotel on the Pacific Coast of Mexico, in 2025.[18] In December 2023, the company announced that it had acquired Hacienda Katanchel in Mexico, with a planned opening in 2027.[19]

In December 2022, Belmond announced a ten-year plan to upgrade its properties, which it had already begun with the renovation of Splendido Mare in 2021.[20] Upgrades have included renovations and refurbishments to its trains. In October 2021, Belmond launched a train carriage designed by film director Wes Anderson on the British Pullman train.[21] In 2023, the company also launched a Dior Spa on The Royal Scotsman.[22]

In 2024, the company returned the Eastern & Oriental Express to service, after the train service was paused during the pandemic.[23] The company also launched a Dior Spa aboard, and unveiled a sleeper carriage for the Venice Simplon-Orient-Express, designed by French street artist JR.[24] The carriage was presented at the 2024 Venice Biennale.[25]

Properties

Hotels

Continent Country City Name
EuropeItaly Belmond Hotel Cipriani
Belmond Hotel Splendido
Splendido Mare
Belmond Villa San Michele
Casole d’Elsa, TuscanyCastello di Casole
Amalfi CoastBelmond Hotel Caruso
SicilyBelmond Villa Sant'Andrea
Belmond Grand Hotel Timeo
SardiniaRomazzino
Spain Belmond La Residencia
Portugal Belmond Reid's Palace
United Kingdom LondonThe Cadogan
OxfordshireLe Manoir aux Quat'Saisons
North AmericaUnited States Belmond El Encanto
Belmond La Samanna
Belmond Cap Juluca
Mexico Belmond Maroma Resort & Spa
San Miguel de AllendeCasa de Sierra Nevada
South AmericaBrazil Copacabana Palace
Belmond Hotel das Cataratas
Peru Belmond Miraflores Park
Belmond Palacio Nazarenas[26]
Belmond Hotel Monasterio
Belmond Sanctuary Lodge
Belmond Hotel Rio Sagrado
Belmond Las Casitas
AsiaIndonesia Belmond Jimbaran Puri
Thailand Belmond Napasai
Laos Belmond La Résidence Phou Vao
Cambodia Belmond La Résidence d'Angkor
AfricaSouth Africa Belmond Mount Nelson Hotel
Botswana Belmond Savute Elephant Lodge
Eagle Island Lodge

Transportation

Type Route Name
Sleeper trains London-Venice Venice Simplon-Orient-Express
Scotland Belmond Royal Scotsman
Singapore, Malaysia, Thailand & Laos Eastern and Oriental Express
Belmond Andean Explorer[27]
Day trains Great Britain Belmond British Pullman
Peru[28] Belmond Hiram Bingham
River Boats France Les Bateaux Belmond (seven canal and river barges)

Other formerly operated trains

Restaurants

Country City Name
United States New York City 21 Club
United Kingdom The Restaurant at Belmond Le Manoir aux Quat’Saisons
London The Lalee
Portugal William Restaurant
Italy Oro Restaurant
Otto Geleng Restaurant
La Loggia
Brazil Mee
Rio de Janeiro Ristorante Hotel Cipriani

Notes and references

References

Notes and References

  1. https://www.sec.gov/Archives/edgar/data/1115836/000111583618000029/bel-20180930x10q.htm Company 10-Q
  2. Web site: Belmond revenue. www.craft.co. 9 October 2019. https://web.archive.org/web/20191009131649/https://craft.co/belmond/revenue. 9 October 2019. dead.
  3. Web site: Belmond Ltd. - SEC . Sec.gov . 2017-08-03.
  4. Web site: Belmond's founder deserves his place in its history. Ft.com. 17 December 2018. 22 December 2019.
  5. Web site: Interview: Behind Belmond's Rebrand of Iconic Orient-Express Name. 17 March 2014. Skift.com. 14 November 2017.
  6. Web site: Orient-Express Hotels Gets a New Name. Shivani. Vora. Intransit.blogs.nytimes.com. 14 March 2014 . 14 November 2017.
  7. Web site: Log In. Wsj.com. 14 November 2017.
  8. Web site: Bloomberg. Bloomberg.com. 14 November 2017.
  9. Web site: Orient-Express Hotels Ltd. Changes Corporate Name to Belmond Ltd.. Hotelnewsresource.com. 14 November 2017.
  10. Web site: 'Orient Express' company Belmond jumps tracks to Ireland. Irishtimes.com. 22 April 2015. Eoin Burke-Kennedy. 22 December 2019.
  11. Web site: Tata-owned India Hotels sells 5.1 per cent stake in Belmond for $49.57 million. Indiatimes.com. 2 July 2016. Ravi Teja Sharma. 22 December 2019.
  12. Web site: Orient Express sold to owner of Christian Dior and Louis Vuitton. Rupert Neate. 14 December 2018. 14 December 2018. Theguardian.com.
  13. Web site: Why Belmond Ltd's Shares Jumped 40% Today. Fool.com. }
  14. Web site: 2019-04-23 . LVMH buys Belmond hotel group for $3.2 bn, including Machu Picchu and Cusco hotels . 2024-03-15 . News from Peru - Peruvian Times . en-US.
  15. 2021-12-07 . Villa Beatrice a Portofino, il gioiello immerso nel polmone verde del Parco di Portofino . 2024-08-28 . Harper's BAZAAR . it-IT.
  16. Web site: Hanson . Eloise . February 10, 2023 . LVMH signs management of two Sardinia hotels . Boutique Hotel News.
  17. Web site: Forshaw . Irenie . 2023-08-10 . Belmond's Maroma Unveils Extensive Redesign . 2024-08-28 . Elite Traveler . en-US.
  18. Web site: Rogers . Cara . 2023-06-27 . Milaroca, A Belmond Hotel, Riviera Nayarit to open in 2025 . 2024-08-28 . Sleeper . en-US.
  19. Web site: 2027 Opening Planned for Katanchel, A Belmond Hotel, Mexico . 2024-08-28 . Hospitality Net . en-us.
  20. Web site: Deux nouveaux directeurs de division chez Belmond . 2024-08-28 . Hospitality ON . fr.
  21. Web site: O'Hare . Maureen . 2021-10-14 . Wes Anderson has designed a luxury Belmond train carriage . 2024-08-28 . CNN . en.
  22. Web site: Ayling . Kim . 2023-04-12 . The Royal Scotsman Introduces Dior Spa Carriage . 2024-08-28 . Elite Traveler . en-US.
  23. Web site: 2024-05-19 . How LVMH exhumed luxury rail with the Eastern & Oriental Express . 2024-08-28 . Australian Financial Review . en.
  24. Web site: Chang . Rachel . 2023-07-12 . Belmond's Eastern & Oriental Express Is Launching New Train Routes to Malaysia's Most Uniques Landscapes . 2024-08-28 . Condé Nast Traveler . en-US.
  25. Web site: 2024-05-01 . Venice Simplon-Orient-Express Unveils an Over-the-Top Sleeper Carriage . 2024-08-28 . AFAR Media . en.
  26. All Cusco and Macchu Picchu Hotels are a 50% Joint Venture with Peruvian shareholding company Peru Hotel Macchu Picchu SA (Peru Belmond Hotels SA)
  27. (since May 2017) In 50% partnership with the Peruvian shareholder company Peruvian Trains and Railways SA
  28. Belmond has a 50% interest in PeruRail.