Jumeirah Group expands presence in Europe with Geneva acquisition

The move signals Jumeirah’s ambition to invest in major tourism destinations

Jumeirah Group has acquired Le Richemond, an iconic hotel on the banks of Lake Geneva, Switzerland.

The move signals Jumeirah’s appetite for investment in key cities that support the diversification of its portfolio and to build brand equity as a globally recognised luxury hotel operator.

Synonymous with luxury living, Geneva has a strong international business community and a robust high-end tourism sector. Located in the city’s business district, Le Richemond is a short walk from the city’s designer boutiques.Founded in 1875, the charming art deco property has 109 keys with 87 rooms and 22 suites, and stunning views across Lac Léman and the mountain peaks of Mont Blanc.

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The property will undergo extensive renovations, and Jumeirah plans to introduce its signature wellness and fitness concepts, as well as destination dining concepts.

Katerina Giannouka, chief executive officer of Jumeirah Group said: “Le Richemond is a legendary property with a 140-year legacy and impeccable pedigree, and we’re committed to preserving this heritage as we redesign the hotel. We’re in pursuit of the finest architects and designers to curate an exceptional hotel.”

The planned renovation works are currently expected to be completed in 2025.

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Giannouka added: “This is an important acquisition for Jumeirah as it marks our entry into Switzerland, as well as serving as a gateway to world-renowned ski resorts. 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.”

Le Richemond is Jumeirah’s fifth property 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 the UAE as a member of Dubai Holding, has a portfolio of 26 hotels and resorts across Europe, the Middle East and Asia.