Louis Vuitton owner buys chain behind Copacabana Palace for $3.2 bn
French luxury goods maker LVMH has agreed to buy Belmond, the owner of Venice's Hotel Cipriani and the Copacabana Palace in Rio de Janeiro, for $3.2 billion. LVMH, the firm behind fashion labels Louis Vuitton and Christian Dior, already owns the Bvlgari and Cheval Blanc hotel chains. Belmond owns hotels, high-end river cruises and train services across 24 countries.