|LVMH Group adds a Cheval Blanc to Paris.|
Wednesday, 1st June 2011
Source : HVS International
Retail conglomerate LVMH Group has chosen Paris to be the home of the first spin-off property of its luxury Cheval Blanc hotel in Courchevel 1850, France.
LVMH Group plans to invest €450 million in renovating the La Samaritaine building, a former department store along the River Seine that closed in 2005.
The 142-year-old building will be transformed into a mixed-use complex including the 80-room Cheval Blanc hotel. Construction of the project is expected to start next year and will be completed in 2014.