LVMH To Launch Luxury Hotels

06/08/2010 05:12 am ET | Updated May 25, 2011

Moet Hennessy Louis Vuitton (LVMH) has launched LVMH Hotel Management to "to "oversee the group's activities in the luxury hotel sector" and to "maximize the value of its brands," WWD reports.

The new branch is in the process of building two new Cheval Blanc hotels--one in Oman and one in Egypt--containing 30 to 40 suites. They are set to open in 2012 and LVMH plans to pursue other projects in the meantime.