Engaged! This heiress is “incredibly happy” after a proposal in Italy

Socialite Nicky Hilton got engaged this weekend at Lake Como, Italy. Her boyfriend, banking heir James Rothschild, popped the question on a boat in the middle of the lake, a source told Us Weekly.

It seems no expense was spared by James in his preparation for the proposal. "Last month, he actually flew from England to the States to ask her parents for her hand in marriage," said the insider.

The newly-engaged couple met three years ago at supermodel Petra Ecclestone’s wedding in Rome, so Italy was the perfect sentimental spot for James to get down on one knee. "They are both really excited and incredibly happy," said the source.

No plans have been made for the pair’s upcoming nuptials, as they are currently celebrating their engagement with a road trip throughout Europe.

Hopefully this match will be second time lucky for Nicky, whose previous marriage lasted just three months. In 2004, the heiress wed childhood friend Todd Meister at a Las Vegas chapel. The marriage was annulled after Nicky admitted she had made the decision “on a whim.”