Jumeirah Expands Further Into European Luxury Hotels

Jumeirah Group said on Monday it had bought the Le Richemond, a five-star hotel on Lake Geneva. The move signaled that the luxury hospitality company based in the United Arab Emirates is focused on growing worldwide in key gateway cities.

Le Richemond is the fifth European property to be acquired by Jumeirah, which operates a 6,500-key portfolio of about 25 luxury properties across the globe.

“As the gateway to the mountains of Europe, Geneva is strategically significant for us as we look to diversify our portfolio in major cities with both summer and winter resort destinations," said Katerina Giannouka, the recently appointed CEO of Jumeirah Group.

Giannouka said she plans to hire architects and designers to renovate Le Richemond — pushing it further upscale and turning it into an "ultra-luxury" hotel by 2025.