News & Trends: Favorite luxury brand Louis Vuitton is adding to its empire of luxury by entering the hospitality arena.

French luxury goods giant LVMH Moet Hennessy Louis Vuitton (MC.FR) has announced plans to begin managing high-end hotels with plans for two exclusive hotels in Egypt and Oman.

LVMH will build on the experience of Group Arnault, LVMH Chairman and Chief Executive Bernard Arnault's holding company, which entered the hospitality market in 2006 with its five star Cheval Blanc hotel.

Now there will be a fitting home for all the LV monogrammed luggage and handbags jet-setters have been lugging around for years.