Jumeirah Group has acquired its first property in Switzerland, securing the flagship property Le Richemond located on the banks of Lake Geneva. Founded in 1875 and positioned in a prime location at the heart of the city’s business district, Le Richemond is just 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,” Jumeirah Group said.
“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.”
Subscribe to LATTE’s free eNewsletter to keep up to date with everything in the luxury travel industry.
Le Richemond is an art deco property that features 109 rooms and suites, and boasts views across Lac Léman and the mountain peaks of Mont Blanc.
The property – which not too long ago was a Five-Star Forbes-listed hotel and member of Preferred Hotels & Resorts’ ‘Legend’ collection, appears to be a victim of the pandemic. According to its website, Le Richemond closed its doors “undefinitely” [sic] on 31 August 2020.
Le Richemond will undergo extensive renovations 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.
“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,” remarked Katerina Giannouka, Chief Executive Officer of Jumeirah Group.
“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,” the CEO said of her first acquisition since taking the leadership role late last year.
Giannouka continued: “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.”
Jumeirah’s new property in Geneva is the brand’s 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.