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After 95 years, the iconic Copacabana Palace, located at the edge of Brazil's most famous beach, will have a new owner from next year. The French group Louis Vuitton has announced the acquisition of the entire network Belmond, owner of the hotel in Rio de Janeiro, in connection with a transaction of 3.2 billion US dollars, or about 12 billion of rand.
The announcement was made by Louis Vuitton's holding company on Friday (14). According to the press release, the transaction is expected to close in the first half of 2019 as it is subject to the approval of Belmond shareholders and the authorization of the competition authorities.
In addition to the Copacabana Palace, Belmond Group has 25 other luxury hotels. It was founded 40 years ago with the acquisition of the iconic Hotel Cipriani in Venice. The Splendido Hotel in Portofino, also in Italy, is part of its network; Grand Hotel Europe, St. Petersburg, Russia; and the Maroma Resort & Spa in Mexico. In Brazil, besides the hotel in Rio, Hotel das Cataratas is located in Foz do Iguaçu.
In addition to the 26 hotels, Belmond also offers cruises in restaurants, hotels, railways and rivers. "With this acquisition, Louis Vuitton will significantly strengthen its presence in the world of luxury hotel," said the French group in a statement.
Questioned by G1 the notice of Copacabana Palace indicated that it was not planned to change the name of the traditional Rio hotel. The beginning of the operation by the French group is also undefined.
"We are very pleased with this news and our membership of the world's largest conglomerate of luxury brands," said the Copacabana Palace Council.
The Copacabana Palace began to be built in 1919 at the request of President Epitácio Pessoa. At that time, Rio was still the capital of Brazil and Pessoa wanted the city to have a large tourist hotel.
The Copacabana Palace was / was / is / is / first large building of Copacabana, in the photo, it appears before the enlargement of Avenida Atlântica, still in the 1920s, surrounded only by small houses – Photo: W.Kollien / Casa Editorial G. Ermakoff
The main objective of building a monumental hotel on the Rio de Janeiro was to welcome the visitors expected for the centennial exhibition of the independence of Brazil, an event of international dimension, held on the esplanade of the castle, in 1922.
It was to the businessman Octávio Guinle, first owner of the hotel, to comply with the presidential request. in August of 1923 and was the first large building of Copacabana, surrounded at the time only small houses and mansions.
In nearly one hundred years, the Copacabana Palace bears the memory of distinguished personalities. They visited their halls and halls with the world's greatest artists, such as Ella Fitzgerald, Louis Armstrong, Madonna, Freddie Mercury, Paul McCartney and Rod Stewart. He had even naked Janis Joplin in his famous pool a few months before his death.
Semi-Olympic Pool of Belmond Copacabana Palace – Photo: Marcos Serra Lima / G1
Semi-Olympic Pool of Belmond Copacabana Palace
