Jumeirah Group expands presence in Europe with key acquisition in Geneva
Jumeirah Group expands presence in Europe with key acquisition in GenevaFebruary 6, 2023
- Jumeirah Group acquires legendary Le Richemond hotel on the banks of Lake Geneva, Switzerland
- The luxury hospitality company is focused on international expansion as it targets strategic gateway cities
Jumeirah Group, the global luxury hospitality company and member of Dubai Holding, today announced the acquisition of its first property in Switzerland as it continues its growth trajectory and international expansion. The flagship property - Le Richemond - was founded in 1875 and is located on the banks of Lake Geneva in a prime location at the heart of the city’s business district and a short walk from the city’s luxury designer boutiques. The acquisition forms part of the Group’s strategy to build its brand profile in gateway destinations across the world.
The move signals Jumeirah’s appetite for investment in key cities that support the diversification of its portfolio and build brand equity as a globally recognised luxury hotel operator. Geneva, as a thriving city, synonymous with luxury living, with a strong international business community and a robust high-end tourism sector, will support Jumeirah’s vision to become one of the world’s top five luxury hotel brands.
The art deco property with its charm and grandeur has been a popular destination for well-known personalities throughout the years. The hotel features 109 keys with 87 rooms and 22 suites, boasting stunning views across Lac Léman and the mountain peaks of Mont Blanc. The property will undergo extensive renovations, which will commence as soon as possible, to reposition and elevate the guest experience to a level consistent with Jumeirah’s brand expectations. Jumeirah plans to introduce its signature wellness and fitness concepts and will also focus on bringing its culinary expertise to the banks of Lake Geneva, a city well-regarded for its diverse culinary craftsmanship and innovative spirit, with the introduction of unique destination dining concepts.
Katerina Giannouka, Chief Executive Officer of Jumeirah Group said: “This is an important acquisition for Jumeirah as it marks our entry into Switzerland, presenting guests with a prestigious address to stay in the heart of Geneva’s most desirable destination, 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 (currently expected in 2025), will support the city’s tourism economy, attracting both domestic and international visitors for business and leisure.”
Jumeirah’s new property in Geneva is its fifth in Europe, joining The Carlton Tower Jumeirah, and Jumeirah Lowndes Hotel in London, UK; Capri Palace Jumeirah on the island of Capri, Italy; and Jumeirah Port Soller Hotel & Spa in Mallorca, Spain. Jumeirah Group, which originated in Dubai in the United Arab Emirates, has a portfolio of 26 hotels and resorts across Europe, the Middle East and Asia.
Jumeirah Group is a member of Dubai Holding, a diversified global investment company with operations in over 13 countries, employing more than 20,000 people and with an extensive portfolio of over AED 130 billion worth of assets that support the diversification and sustainable growth of Dubai’s economy across key sectors.
Katerina Giannouka, Chief Executive Officer of Jumeirah Group
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.