Bernard Arnault: €200 Million Investment in Cap Estel

French magnate Bernard Arnault, head of the LVMH group, has acquired the iconic Cap Estel hotel on the French Riviera for €200 million.

Cap Estel, located in Èze, between Nice and Monaco, was built in 1899 and features 20 rooms and suites, two swimming pools, a tennis court, and a haute cuisine restaurant. It has previously hosted figures such as The Beatles, Greta Garbo, and The Rolling Stones.

The purchase was made through his family's company, Financière Agache, and marks an expansion of LVMH's presence in the luxury hotel sector in the Mediterranean.