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Vows in Valentino: Nicky Hilton Weds James Rothschild

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Nicky Hilton is officially off the market!

The hotel heiress wed England-based banker James Rothschild at Kensington Palace in London on Friday, PEOPLE has learned.

Hilton, 31, wore a long-sleeved, ivory and silver guipure Valentino Haute Couture gown embellished with crystals as she and her new husband left the palace’s Orangery on Friday evening.

After Hilton and Rothschild began dating in 2011, the European banking heir popped the question to Hilton last August during a romantic boating trip on Italy’s Lake Como.

James Rothschild and Nicky Hilton
While the jet-setters may have traveled the world together, Rothschild took a secret solo trip to the United States to ask her parents permission for her hand in marriage before getting down on one knee.

Nicky (left) and Rick Hilton
The only hitch in an otherwise flawless day arrived when Hilton’s vintage lace cathedral veil was caught under the tire of a Bentley as she left Claridge’s Hotel with her family to head to the palace.

Nicky Hilton
Earlier Friday, Hilton’s sister and maid of honor Paris posted well wishes for “Mrs. Rothschild” with a sweet Instagram snap, saying she is “so happy that my sister found the man of her dreams.”

Paris (left) and Kathy Hilton
During the ceremony, Paris wore a pale blue chiffon gown and diamond drop necklace, she coordinated color palettes with Mother of the Bride, Kathy, who also wore the pastel shade. The matriarch’s dress featured white floral appliqués along the bottom, and she accessorized with a statement pearl necklace and mini top-handle bag.

“They’re just perfect for each other. They’re best friends,” Paris, 34, previously told PEOPLE of the couple. “They’re so loyal and they’re so in love. They’re the ultimate couple. They’re like a prince and princess.”

At the reception, the bride’s brother Barron posted a shot on Instagram of his rose-covered, candlelit table that revealed guests began the lavish reception dinner with crab and lobster Louis with spiced tomato and horseradish dressing.

Congratulations to Mr. & Mrs. Rothschild 🍷

A photo posted by Barron Hilton (@barronhilton) on

RELATED VIDEO: Vows in Valentino: Nicky Hilton Weds James Rothschild

And in another Instagram photo from Friday, the proud big sis summed up the spirit of the special day: “Once in awhile, right in the middle of an ordinary life, love gives us a fairy tale.”