Arsenale, the Italian leader in luxury hospitality and rail travel, has announced the acquisition of a strategic 33% stake in SJourney, Vietnam’s pioneering luxury rail brand. The deal, unveiled in Rome, gives the group access to a new market and strengthens its footprint in Asia.
A new milestone in the group’s international growth
This deal marks a new milestone in Arsenale’s international growth strategy, with the group’s entry into Vietnam and the strengthening of its presence in Asia. It follows Arsenale‘s acquisition of Golden Eagle Luxury Trains in 2025 and forms part of the group’s overall strategy to build an international portfolio of luxury rail journeys across some of the world’s most singular destinations.
The investment combines Arsenale‘s international expertise in developing and positioning luxury rail projects with the local roots, operational capabilities and in-depth knowledge of Vietnam that SJourney brings. The two companies intend to support SJourney’s international growth while preserving its Vietnamese identity, its sense of place and the immersive approach to travel that make the brand distinctive.
Arsenale as strategic minority shareholder
As a strategic minority shareholder, Arsenale will actively support SJourney‘s next phase of growth through its commercial network and international distribution channels, helping to raise the brand’s profile and visibility. The group will also contribute its strategic and sector expertise to the development of new itineraries and a future expansion into other markets, while supporting the continued evolution of onboard service standards and offerings.
The partnership also envisages a licensing arrangement for the Golden Eagle brand, with the “SJourney by Golden Eagle” positioning remaining subject to appropriate strategic and operational alignment in due course. SJourney will retain its distinctive Vietnamese identity and local expression, offering luxury rail journeys designed to reveal the country through experiential, immersive tourism connecting landscapes, cultural heritage and local communities.
Hanoi-Ho Chi Minh City, the flagship route
Among SJourney‘s flagship routes is the Hanoi-Ho Chi Minh City line, an emblematic north-to-south journey through some of Vietnam’s most remarkable landscapes and significant cultural sites. Its approach rests on a simple conviction: the journey itself should be an integral part of the destination, allowing travellers to discover the country at a gentler pace.
Paolo Barletta, CEO of Arsenale Group, said the stake in SJourney marks a new milestone in Arsenale’s international development in luxury rail travel, and that it also strengthens the group’s presence in Asia, a region set to play a growing role in the evolution of experiential travel. He added that Vietnam combines exceptional cultural and natural heritage with a fast-evolving tourism sector, and that SJourney has found an authentic way to discover the country by rail — noting that Arsenale’s ambition is not simply to expand geographically, but to build a global network of exceptional rail journeys, rooted in the destinations they travel through. [Quote rendered as reported speech pending verification of an official English-language original — please confirm before publication.]
Thang Phan, co-founder and Chief Commercial Development Officer of SJourney, said the partnership marks an important step in SJourney’s long-term ambition to become a distinctive international luxury travel brand while remaining deeply rooted in Vietnam. He added that Arsenale Group brings international expertise, commercial reach and a shared understanding of the potential of luxury rail travel, giving SJourney a stronger platform for its next phase of development. [Quote rendered as reported speech pending verification of an official English-language original — please confirm before publication.]
A luxury rail network taking shape
Founded in 2020, Arsenale operates through its Hospitality and Luxury Rail divisions and has built a growing international presence across Europe, the Middle East and Asia. Its portfolio includes luxury hotel resorts in Italy as well as an international rail platform spanning Italy, Saudi Arabia, Uzbekistan, Egypt, the United Arab Emirates and, now, Vietnam through this investment in SJourney.
In September 2025, Arsenale had already acquired 100% of Golden Eagle Luxury Trains Ltd., strengthening its international capabilities in luxury rail. SJourney, for its part, offers immersive rail journeys combining comfort and exclusivity with an authentic discovery of Vietnam, close to its landscapes, cultural heritage and local communities.
🔗 Also on THT: the resurgence of luxury trains in international hospitality [Flag: LTH cross-reference had no hyperlink in source and no confirmed THT English equivalent — link to be confirmed or removed.]
At a glance by The Hospitality Tribune
Arsenale Group acquires 33% stake in SJourney, Vietnam’s luxury rail pioneer
Deal marks Arsenale’s first entry into the Vietnamese market
Follows Arsenale’s 100% acquisition of Golden Eagle Luxury Trains in September 2025
Flagship SJourney route: the Hanoi-Ho Chi Minh City line
Potential future brand licensing under a “SJourney by Golden Eagle” positioning
Arsenale portfolio now spans Italy, Saudi Arabia, Uzbekistan, Egypt, the UAE and Vietnam
