Nicky Hilton Engaged: Hotel Heiress Engaged to Boyfriend James Rothschild

Talk about a power couple! Hotel heiress and fashion designer Nicky Hilton is engaged to boyfriend James Rothschild, heir to the European banking family.

A source told Us Weekly the pair are "both really excited and incredibly happy" after Rothschild popped the question last weekend in Lake Como, Italy.

"They went on a romantic anniversary trip over the weekend," the source told the magazine. "He took her out on a boat... and he proposed, got down on one knee and everything. It was incredibly romantic and beautiful."

Want to hear even more romance? The source added that Rothschild flew from London, where he is based, to the United States to ask Mr. and Mrs. Hilton for their daughter's hand in marriage.

Way to make a good impression on the future in-laws! Plus, it is always nice to know that chivalry is not dead after all.

The couple started dating in 2011 after meeting at supermodel Petra Ecclestone and James Stunt's wedding in Italy. It seems their love has followed a full circle, starting and blossoming in the heart of Italy's Lake Como.

Since then, the bride and groom-to-be have been on a celebratory road trip throughout Europe, posting Instagram after Instagram of each stop. So far, they have hit up Milan, Lake Como and Rome.

We are trying to live vicariously through each post and are anxiously awaiting Hilton's latest updates.

Here's a cheers to you, Hilton and Rothschild, to a wonderful life, and a long and lasting marriage!