Arsenale, an Italian leader in luxury rail tourism, has reached an agreement to acquire a strategic 33% stake in SJourney, a luxury tourist train brand in Vietnam.

A passenger train on the North-South rail line. (Photo: VNR)

SJourney operates an eight-day, seven-night 1,726-km heritage journey connecting Hanoi and Ho Chi Minh City, offering passengers a distinctive experience combining scenic travel and cultural exploration.

Established in 2024, the brand broke even at an early stage. Arsenale’s investment in SJourney follows its acquisition of UK-based Golden Eagle, as the group seeks to complete its global luxury rail tourism ecosystem.

Arsenale CEO Paolo Barletta said Vietnam is among the world’s fastest-growing tourism markets, with international arrivals expected to reach 25 million by the end of the year.

The rapid growth was creating significant potential for high-end tourism experiences.

Through its global commercial network, Arsenale will support efforts to raise SJourney’s brand visibility. The group is also considering licensing the Golden Eagle brand under 'SJourney by Golden Eagle', while maintaining the route’s distinctive local cultural identity.

Over the next five years, Arsenale and SJourney plan to invest around 20 million euro (23.2 million USD) to upgrade infrastructure and expand the luxury rail network to neighbouring countries in Southeast Asia. Arsenale also aims to increase its ownership in SJourney to 50%.

Part of the Barletta Group, Arsenale currently owns the La Dolce Vita Orient Express project in Italy and is developing a series of luxury train projects in Saudi Arabia, the UAE, Uzbekistan and Egypt.

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