Dubai’s Jumeirah Group has acquired Le Richemond in Geneva, Switzerland, its first hotel in the country.
Terms of the deal were not disclosed.
The acquisition marks Jumeirah’s strategy in investing in key cities, helping to diversify its portfolio and create brand equity as a luxury hotel operator.
Founded in 1875, Le Richemond is located on the banks of Lake Geneva. The art deco hotel includes 109 keys — 87 rooms and 22 suites — with views across Lac Léman and the mountain peaks of Mont Blanc. The hotel will undergo extensive renovations, expected to start as soon as possible and expected to be completed in 2025, to reposition and enhance the guest experience. Jumeirah plans to launch its signature wellness and fitness services and culinary concept at the hotel.
Geneva is a strategic investment for Jumeirah as the gateway to Europe’s mountains. According to Katerina Giannouka, CEO of Jumeirah Group, the company plans to expand its portfolio in key cities with both summer and winter resort destinations.
“This is an important acquisition for Jumeirah as it marks our entry into Switzerland as well as serving as a gateway to world-renowned ski resorts. Le Richemond is a legendary property with a 140-year legacy and impeccable pedigree, and we are committed to preserving this heritage as we redesign the hotel. We are in pursuit of the finest architects and designers to curate an exceptional hotel within the Jumeirah portfolio, and we are confident that the re-launch of this property as a new ultra-luxury hotel in Geneva following the completion of the planned renovation works will support the city’s tourism economy,” Giannouka said.
Le Richemond is Jumeirah’s fifth property in Europe, joining The Carlton Tower Jumeirah, and Jumeirah Lowndes Hotel in London; Capri Palace Jumeirah on the island of Capri, Italy; and Jumeirah Port Soller Hotel & Spa in Mallorca, Spain. Jumeirah Group’s portfolio currently includes 26 hotels and resorts across Europe, the Middle East and Asia.
The hotel had been a member of Preferred Hotels & Resorts, under its Legendary category.
Jumeirah is a member of Dubai Holding, the Dubai ruler’s investment vehicle with operations in more than 13 countries, with a portfolio of more than AED 130 billion ($35.38 billion) worth of assets that support the diversification and sustainable growth of Dubai’s economy across key sectors.