A French luxury group Louis Vuitton store is seen in Paris, France, December 18, 2017. REUTERS/Charles Platiau
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LVMH is making a $2.6 billion bet that consumers who spend $1,000 on a Louis Vuitton bag will splash out for a $2,000-a-night hotel on Italy's Amalfi Coast.The company's shares are down 18 percent since September on concern that Chinese buyers, who account for about a third of industry sales and a majority of growth, don't have room in their closets for more leather goods and fashions.Belmond, which used to be known as Orient-Express Hotels, owns or has stakes in more than 30 high-end hotels around the world, from St. Petersburg to Anguilla in the Caribbean.The company said in August it hired Goldman Sachs Group Inc. and JPMorgan Chase & Co. for a strategic review.The company's shares have soared 58 percent since Aug. 8, at one point reaching their highest level since 2008 .
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