Rooms Hotels

Luxury Jewelry Brand Chopard Buys Landmark Parisian Hotel

May 10, 2014 4:00 am

Skift Take

Expansion into all things branded luxury could be a good move, but understanding hospitality is different than understanding retail.

— Jason Clampet

Win an All-Expenses Paid Trip to NYC to Tour the Future of Travel

Hôtel de Vendôme

Exterior or Paris' Hôtel de Vendôme. Hôtel de Vendôme

Bulgari, Versace and Giorgio Armani have all expanded into the luxury hotel business – now jewellery and watch house Chopard is checking in too. The Swiss brand has purchased Union Hôtelière Parisienne – the parent company of the five-star Hôtel de Vendôme on the esteemed Place Vendôme in Paris .

Chopard’s flagship Paris boutique has been housed in the ground floor of the 18th-century building for over 10 years. The prestigious jeweller will now also take over the hotel’s 29 rooms and restaurant in a move that the company says will “kick off a diversification project for the group”.

The hotel occupies a prime position for jewellery enthusiasts, with Boucheron, Van Cleef & Arpels, Dior, Chanel and Bulgari all located in the surrounding streets of the city’s 1ere arrondissement. “This transaction ensures a key location for Chopard’s own boutique network,” a representative stated.

The hotel, which has sister properties on the French Riviera, in Megève in the French Alps and in Buenos Aires, carries 10 suites including a penthouse, along with its own restaurant and bar.

“The restaurant, on the first floor, enjoys a very good reputation, and possibilities of synergies between the two worlds are numerous,” said the family-owned company, adding “the firm looks forward to further developing this gem of Parisian hotels”.

The company has not disclosed the hotel’s purchase price, but has revealed that this is the first of several planned investments for the group.

Tags: , ,

Next Up

More on Skift

Daily Travel Startup Watch: Audio Trip, Local And More
Average U.S. Hotel Rate Nearly Hit an All-Time High in First Half of 2014
Skift Business Traveler: American Airlines Avoids Big Labor Woes
Free WiFi Tops Business Travelers’ List of Hotel Must-Haves