Le Richemond will undergo extensive renovation work, adding wellness, fitness and dining concepts, which are due to be completed in 2025. The art deco property was founded in 1875 on the banks of Lake Geneva and features 109 keys, with 87 rooms and 22 suites overlooking Lac Leman and Mont Blanc. 

The property will be Jumeirah’s fifth in Europe, and the luxury hospitality group’s global portfolio currently spans 26 properties. 

Chief executive Katerina Giannouka said the property’s heritage would be preserved thanks to “a team of the finest architects and designers."

She continued: “This is an important acquisition for Jumeirah as it marks our entry into Switzerland, presenting guests with a prestigious address to stay in the heart of Geneva’s most desirable destination, as well as serving as a gateway to world-renowned ski resorts. Geneva is strategically significant for us as we look to diversify our portfolio in major cities with both summer and winter resort destinations.”