Belmond, a leading luxury hotel group, has announced its plans to acquire Château d’Urio, a stunning 16th-century property located on the picturesque shores of Lake Como in Italy. This strategic move is part of Belmond’s expansion efforts under the ownership of LVMH, the multinational conglomerate headed by Bernard Arnault.
Belmond, established in 1976 and acquired by LVMH in 2019, specializes in offering luxury tourism experiences and currently owns approximately fifty properties worldwide, with nine of them situated in Italy. Some of their notable establishments include Hotel Cipriani in Venice, Villa San Michele in Florence, Copacabana Palace in Rio de Janeiro, the Venice Simplon-Orient-Express, and La Résidence d’Angkor in Siem Reap, Cambodia.
While the agreement has been reached, the finalization of the transaction is expected to occur in 2024. According to various media sources, the acquisition is estimated to cost between 50 and 100 million euros, which includes the renovation of the property.
Château d’Urio, a magnificent structure built in the 16th century, is located in Carate Urio, a municipality in the northern part of Italy. Situated on a vast estate spanning 1.9 hectares, the property boasts a stunning 180-meter shoreline on Lake Como. Visitors can stroll through exquisitely landscaped Italian gardens adorned with sculptures, balustrades, and a charming cobblestone staircase that leads directly to the lake.
For Belmond and LVMH, this acquisition is not only a strategic decision but also a testament to their confidence in the allure of Italy as a top-tier tourist destination. By capitalizing on Italy’s appeal, they aim to increase their revenue and attract new clientele. According to a study conducted by the European Cultural and Creative Industries Alliance (ECCIA) in May 2022, the luxury tourism segment in Italy is valued at around 25 billion euros, accounting for a significant portion of the country’s overall tourism market, estimated between 80 to 100 billion euros. The report also projects a promising growth trajectory for the luxury tourism sector in the upcoming years, further cementing Belmond’s choice to acquire a property in the prestigious Lake Como region.
While there are no additional relevant links available at this time, readers may find the following links about Belmond and luxury tourism in Italy helpful [link 1](https://www.belmond.com/) and [link 2](https://www.italianluxuryconsulting.com/what-is-the-value-of-italian-luxury/) respectively.
