Jumeirah Group has bought the Le Richemond hotel in Geneva, its first property in Switzerland for an undisclosed amount.
The hotel was previously bought by Cedar Capital Partners from Rocco Forte Hotels in 2010 for $157 million, according to MSCI Real Capital Analytics.
Other sources, however, suggest that Malaysia’s Tan Sri Ananda Krishnan was the owner of the hotel, which was closed because of the COVID-19 pandemic in 2020.
Located on the banks of Lake Geneva, the hotel features 109 keys with 87 rooms and 22 suites. The property will undergo extensive renovations and Jumeirah plans to introduce its wellness and fitness concepts.
Jumeirah's new property in Geneva is its 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.
Jumeirah Group is a member of Dubai Holding, the investment vehicle of Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum.