LVMH Moet Hennessy
Louis Vuitton
, the world’s largest maker of luxury goods, plans to open two luxury property developments on islands in Oman and Egypt under the Maison Cheval Blanc brand.
The projects, which are in collaboration with Samih Sawiris, chairman and founder of Orascom Hotels and Development, are already under construction and are expected to open in 2012, the Paris-based company said today in an e-mailed statement. Other venues are also being considered,
LVMH
said.
LVMH also said it created a hotel management unit to retain control of its hospitality businesses while minimizing capital commitment. This will enable the company to maximize the value of its brands and exploit the long-term growth of the luxury hotel industry,
LVMH
said.
The Maison Cheval Blanc in Oman is on the 11 square- kilometer island of Al Sodah and includes 32 private villas,
LVMH
said.
The development in Egypt is on the private island of Amoun in Aswan and will include about 40 suites overlooking the Nile, the company said. Both projects were conceived in collaboration with architect Jean Michel Gathy, LVMH said.
The first Maison Cheval Blanc hotel was built by LVMH Chairman Bernard Arnault in the French ski resort of Courchevel in 2006.
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