LVMH’s New Luxury Travel Push With Belmond

Luxury travel brand Belmond is betting big on experiential elements in its most significant expansion since LVMH bought it in 2019. Next year, the brand will add high-end sleeper trains and exclusive property developments as wealthy travelers seek more immersive experiences.

“Our properties’ identity is rooted in ‘slow luxury,’” said Belmond’s CEO Dan Ruff.

Ruff is launching a slate of ambitious projects for 2025 centered around a philosophy emphasizing local culture, artisanal craftsmanship, and memorable experiences. Think private Italian villas, Michelin-starred chefs on trains, and the kind of unhurried travel that went out of fashion sometime around the invention of the jet engine.

Classic Trains

Central to Ruff’s strategy is Belmond’s expansion of its rail division. The company will debut the Britannic Explorer in July 2025 as the first luxury sleeper train in England and Wales, offering three- and six-night journeys between London and Cornwall, the Lake District, or Wales.

The train will feature 18 cabins, including three grand suites, designed by London studio Albion Nord. Acclaimed chef Simon Rogan will oversee the dining program, bringing his farm-to-table philosophy and eight Michelin stars to the rails.

Analysts estimate the luxury train segment could grow substantially as affluent travelers seek alternatives to conventional resorts and companies like Accor invest in competitor products.

Belmond already operates the Venice Simplon-Orient-Express, which will add a new premium carriage called L’Observatoire in March 2025. It’s the first car designed by the enigmatic artist JR and will feature a free-standing bathtub, private library, and hidden tea room.

Villas and Hotels

The company is also reimagining its iconic Italian properties. In June 2025, Portofino’s legendary Splendido Hotel will unveil a major renovation by designer Martin Brudnizki. The project includes refreshed rooms and a new cocktail bar.

Nearby, Belmond will open the Villa Beatrice as its first standalone private villa in July 2025. The three-story palazzo is perched above a bay with views of the Gulf of Portofino. It has a subtropical garden, plunge pool, butler, private chef, and yoga pavilion. 

The company is also expanding its water-based offerings. It has appointed three-Michelin-starred chef Dominique Crenn to oversee culinary operations for its French river cruise fleet.

New itineraries include a “12-Star Michelin Cruise” through Burgundy. With stops in Burgundy and Bordeaux, the cruise starts at about $140,000 (€135,000) for up to 8 guests.

LVMH’s Plans

While specific financial details weren’t disclosed, industry experts estimate LVMH Moët Hennessy Louis Vuitton has invested substantially in Belmond’s expansion since acquiring the company for $2.6 billion in 2019. The luxury conglomerate reported revenue of €86.2 billion ($92.8 billion) in 2023, with its hospitality division seeing strong growth.

“It was probably undervalued on the stock market at the acquisition,” Ruff said, responding to a question. “So I think when LVMH looks back on that, they feel they got something with probably a great deal more value. They look at their investments to create generational value.”

Looking ahead, Ruff aims to strengthen Belmond’s position as a market leader in luxury rail travel while enhancing its portfolio.

“We continue with their support to invest a lot of money in our portfolio,” Ruff said about LVMH. “They are looking at long-term returns.”

Slow Growth for Slow Travel

Belmond has maintained roughly the same size (about 46 properties) since LVMH’s acquisition.

That’s surprising because when the deal closed in April 2019, LVMH executives said they planned to double Belmond’s size by now.

Ruff declined to say how much Belmond’s portfolio might grow or over what timetable, and he also resisted saying if its current size was enough.

Yet he emphasized a few points about the LVMH’s strategy for Belmond:

• Selective Portfolio Management: They’ve added and sold properties since 2019 to stay at about the same size. Ruff said Belmond will sell properties if it believes “no matter how much investment we make, [an aset] can never deliver an exceptional guest experience.” For LVMH, the brand’s performance is “measured fundamentally on guest experience,” Ruff said.

• Asset Control Strategy: Ruff notes that they own almost all their hotels, trains, boats, and safaris. This ownership gives them control over long-term strategy and allows them to avoid short-term pressures to expand. For example, the upcoming Splendido Hotel will include a new Dior spa, highlighting LVMH’s strategy of leveraging synergies across its luxury portfolio.

• Quality Over Scale: Ruff suggests there’s a “delicate balance” in scaling luxury properties, noting they won’t open large 200-room hotels because that wouldn’t allow for it “to deliver an experience that is a true luxury” and would reduce scarcity, which is important to their brand cachet.