Nicky Hilton is reportedly engaged to James Rothschild

Congratulations are in order for Paris Hilton’s youngster sister, Nicky Hilton, who is reportedly engaged to James Rothschild.

The heiress fashion designer said yes to her longtime love after he proposed last weekend at Lake Como, Italy.

“They are both really excited and incredibly happy,” a source told US Weekly magazine.

Nicky Hilton and James Rothschild

The source added: “They went on a romantic anniversary trip over the weekend.”

He took her out on a boat into the middle of Lake Como and he proposed, got down on one knee and everything. It was incredibly romantic and beautiful.”

British banker James, who is based in London, is also thought to have flown to Los Angeles last month to get a blessing from Nicky’s parents.

Could this be the boat where James Rothschild proposed to Nicky Hilton?

Nicky, 30, and James, who is a British banker, first met in 2011 at the wedding of Petra Ecclestone and James Stunt in Odescalchi castle, the spectacular 15th-century Italian fort where Tom Cruise and Katie Holmes also married.

They pair are now embarking on a road trip around Italy, which Nicky has been sharing on Instagram with her fans.

Nicky Hilton poses with a map on her Italian road trip

“Italian road trip begins!” Nicky captioned a shot taken last week of her in a convertible care with windblown hair, while a second snap was captioned: “Road trip continues…” showing Nicky reading a map.

She has also been posting pics of her view at Lake Como, delicious dishes of Italian pasta, and a boat trip.

HELLO! Canada magazine is available for your tablet and smartphone. Get HELLO! Canada, PEOPLE, Vanity Fair and over 100 more of the world’s best magazines for one low monthly price at Texture by Next Issue. CLICK HERE to sign up for a free trial.