Qatar supported by Louis Vuitton expands hotel portfolio

LVMH Moet Hennessy Louis Vuitton, which is part of the French luxury goods conglomerate of Qatar, has expanded its hotel division with the acquisition of the Hotel Saint-Barth Isle de France on the Caribbean island of Saint-Barthélemy. Miu Miu Purse The latest addition to the portfolio of five-star hotels LVMH consists of 39 rooms, suites and villas is bought for an undisclosed sum. Other Portfolio already contains luxury properties in Paris, Maldives and Oman. LVMH was formed by the merger in 1987 of fashion house Louis Vuitton with champagne, spirits producer Mo?t Hennessy. Sovereign wealth funds Qatar Holding owns 1.03 per cent in the company, which was valued at approximately € 699m ($ 914m) last year. miu miu shoulder LVMH profits in the first half of 2013 rose by two per cent to € 2.71bn ($ 3.6 billion), the Paris-based company last month. Total revenue for the six months were up 5.6 percent to € 13.7 billion.