Bernard Arnault’s family holding company, Financière Agache, has purchased the luxurious Hôtel Cap Estel on the Côte d’Azur, extending its footprint on the French Riviera. The company already is a stakeholder in The Société des Bains de Mer (SBM) which operates a huge stable of assets down the road in Monaco, including two palaces and two deluxe hotels, four casinos, 33 bars and restaurants, three spas and more.
Arnault is the leader of French multinational luxury conglomerate LVMH (Louis Vuitton Moët Hennessy), which includes a stable of ultra-luxury hospitality brands, including Belmond and Cheval Blanc, and partners with Orient Express.
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Perched on the coastline between Monaco and Nice, in Èze, Hôtel Cap Estel comprises 20 suites and rooms on a two-hectare peninsula. The property features its own private beach, swimming pools, spa, tennis court and three dining options, one of which is La Table du Cap Estel, and another, Le Ficus.
Hôtel Cap Estel is a member of multiple trade networks and consortia, including Virtuoso, Serandipians/Traveller Made and Fine Hotels + Resorts.
Room rates are priced at over AU$3,200 per night at this time of year.
It’s reported that Financière Agache acquired the property an unprecedented €10 million per key. For comparison, the sale of the Grand-Hôtel du Cap-Ferrat (Four Seasons) in 2015 was negotiated at around €3.5 million per key, while the Eden Roc du Cap d’Antibes, would be valued at between €5 and €6 million per key.
As the acquisition has been made through Financière Agache, it’s unclear if the property will form part of LVMH’s Cheval Blanc stable of ultra-luxury hotels.
