French luxury goods conglomerate Louis Vuitton Moet Hennessy is betting on high-end hospitality, at least in the long term.
The company filed plans with the city of Beverly Hills to build a 115-room hotel on the corner of Rodeo Drive, according to the Los Angeles Times. From what LVMH leadership is saying about the Cheval Blanc Beverly Hills, it’s going to live up to the company’s reputation for luxury.
“The Cheval Blanc is not a democratic price point,” said Anish Melwani, CEO for LVMH’s U.S. operation, according to the Times. “This is high-luxury, expensive rooms.”
The hotel wouldn’t open until 2025 the earliest, so the company considers it a long-term investment and doesn’t appear to be concerned about economic volatility currently gripping the market and hammering the global hospitality industry.
The Cheval Blanc could aim for a higher price point than even Beverly Hills’ current stock, which includes luxury mainstays the Beverly Hilton and Beverly Hills Hotel.
Renderings show a modernist-style façade designed by architect Peter Marino, who designed the Rodeo Drive stores of LVMH brands Louis Vuitton and Dior along with several other luxury stores around the globe. Marino also designed the Cheval Blanc hotel in Paris.
The project requires an environmental review through the California Environmental Quality Act and approval from the Beverly Hills City Council. [LAT] — Dennis Lynch