Arsenale has acquired a 33% stake in SJourney, strengthening its position in the Asian luxury rail travel market. The Italian group announced the investment following its recent €300 million bond issue on the Vienna Stock Exchange. Through the partnership, Arsenale will support SJourney’s next growth phase by leveraging its international commercial network and distribution channels.

The deal also includes the potential licensing of the British Golden Eagle brand. Arsenale acquired the brand around one year ago and could now introduce a new format, SJourney by Golden Eagle. However, the partners will assess this opportunity as they progressively align their strategic and operational activities.

Meanwhile, the investment expands Arsenale’s international luxury rail platform. SJourney operates in Vietnam and represents a strategic entry point into a fast-growing Asian travel market. Furthermore, the partnership could allow the Italian group to strengthen its regional presence while increasing the reach of its luxury rail offering.

Arsenale CEO Paolo Barletta described the transaction as another step in building the company’s international platform for luxury train travel. He also highlighted its role in reinforcing the group’s presence across Asia.

The transaction follows Arsenale’s broader strategy of developing a global luxury hospitality and travel ecosystem. In particular, the company has recently increased its exposure to international rail tourism through acquisitions and new partnerships. The potential integration of the Golden Eagle brand could therefore create additional opportunities for SJourney.

Overall, the partnership gives Arsenale access to the Vietnamese market while supporting SJourney’s international expansion. At the same time, the possible SJourney by Golden Eagle concept could strengthen the group’s premium positioning and broaden its portfolio of luxury rail experiences.