LVMH Acquires Luxury Travel's Belmond Hotels | Will Bernard Arnault Help Save The Elephants
/AOC awoke Saturday morning to news that LVMH has set in motion the acquisition of Belmond Hotels. “Belmond, a fast-growing company based in London, offers its wealthy customers some of the most opulent travel experiences money can buy in settings like the Hotel Cipriani in Venice, the Copacabana Palace in Rio de Janeiro and Orient Express trains connecting major European cities,” wrote The New York Times.
LVMH, the world’s largest luxury company based on revenues from brands like Christian Dior, Louis Vuitton and Fendi, offered to pay $25 a share for Belmond, a premium of more than 40 percent on the company’s closing price, in a deal valued at $2.6 billion.
The deal emphasized the limitless financial resources available to the world’s very rich customers, as well as the ongoing move away from buying ‘things’ and the growing appetite for ‘experiences’. This transition to the value of ‘experiences’ is pronounced among the entire younger generation, regardless of income, and dovetails well with their environmental concerns over accumulating more stuff.
Perhaps it was no coincidence that Friday’s Porter Edit had a sponsored post from Belmond Africa, based in South Africa and Botswana. The luxury hotel jumping off point gave us an opportunity to update the hot topic of the well-being of Botswana’s elephants, the largest elephant population in Africa and one that has been relatively stable until disputed reports of almost 90 dead elephants hit headlines in September.
One of the greatest conservation challenges in Africa is the cost of upgrading the continent’s parks and employing the resources to fight animal poaching. As many African leaders are quick to note, Europeans, Americans and other armchair conservationists are are more concerned about elephants and lions than African babies. AOC finds it difficult to dispute the assertion.
In October 2018, researchers put a price on protecting Africa’s wildlife at a minimum of $1.2 billion each year.
Our mind is always big picture at AOC — along with connecting dots — so of course the first question that came to mind after reading about the LVMH acquisition of Belmond Hotels was wondering how Bernard Arnault help help save the world’s elephants and other big game.
Conservationists argue that luxury hotels, capitalizing on the beauty and majesty of Africa’s wildlife, simply must become a source of revenue and creative policy making in keeping wildlife alive. LVMH may not have the in-house skill set to sponsor such an initiative, but Arnault’s teams certainly have the financial budget to acquire it.