Dubai Holding in talks with Accor for $800m investment in Orient Express cruise brand

Dubai Holding is considering a major investment in Accor’s Orient Express cruise line brand, which will operate ultra-luxury cruising superyachts inspired by the famed train that travelled between Paris and Istanbul in the 20th century.

The French hotel conglomerate is in advanced negotiations with Dubai Holding for the investment group to fund the building of two state-of-the-art cruising superyachts, in the latest sign of Middle East investors’ growing interest in the cruise sector. 

The collaboration between Accor and Dubai Holding will be a partnership giving Dubai Holding direct input into the design and operation of the vessels, which will be built by the French shipyard Chantiers de l’Atlantique. 

The first yacht, to be named Orient Express Silenseas, will feature 54 suites and ticket prices soaring up to €20,000 per voyage. The vessels are due for delivery in 2026 and 2027, and will expand the Orient Express brand beyond luxury hotels and trains onto the high seas.

Dubai Holding will own the vessels themselves, while Accor will own and operate the Orient Express brand. The move marks the entry of both groups into the cruise sector, with Dubai Holding’s portfolio already including the Jumeirah luxury hotel chain.

The luxury travel sector, poised for a 45% growth to US $2 trillion by 2028, is seeing a rapid expansion of the luxury cruise segment. Accor’s entry into this sector, backed by Middle Eastern investment, is the latest move to sea by a hotel chain.

Orient Express Cruises will be based around the train of the same name that ran between Paris and Istanbul in the 20th century.

Four Seasons, Ritz-Carlton, Aman Hotels have all developed similar cruise brands featuring cruising superyachts for ultra-luxury ocean holidays, while the Middle East travel industry is rapidly expanding its cruise sector.

Saudi Arabia, which recently opened to cruise ships for the first time, has not only established itself as a popular cruise destination in the Red Sea, current security concerns not withstanding, but is also developing a homegrown cruise line of its own through Cruise Saudi and its PIF sovereign wealth fund.

Aroya Cruises will be a mainstream cruise line on-par with premium brands such as Holland America, Cunard, or Princess Cruises, while its partnership with Aman Hotels will see the launch of a fleet of luxurious cruising superyachts, which will ply the Red Sea and Arabian Gulf.