Rio’s Copacabana Palace and Belmond Group Sold for US$3.25 Billion

The iconic hotel, inaugurated in August 1923, has hosted legendary parties and received the world’s greatest celebrities like Louis Armstrong, Madonna, Princess Diana, Freddie Mercury, Paul McCartney and Mick Jagger.

By Lise Alves, Senior Contributing Reporter

RIO DE JANEIRO, BRAZIL – Considered the most famous hotel in the country, Rio de Janeiro’s Belmond Copacabana Palace has been sold to French group LVMH as part of a total deal worth US$3.25 billion. The deal depends on the approval of the company's shareholders and Brazilian regulatory bodies.

The current owner, Belmond has 46 luxury hotels, restaurants, trains and cruises around the world, all of which were sold to the luxury brand conglomerate LVMH.

"We are very happy with the news and for being part of the largest conglomerate of . . .

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