AccorHotels is looking to bolster its presence in the luxury segment by acquiring a 50 percent stake in Orient Express.
The French hotel group will look to develop a collection of hotels operating under the Orient Express brand, which dates back to 1883 when the historic long-distance train first connected Europe's marquee destinations.
The SNCF Group, France's national state-owned rail company, had previously fully-owned Orient Express. The seven historic train carriages will remain in SNCF's possession and will be used by the iconic luxury brand for private tours and events.
The carriages may also be used to host events in collaboration with some of AccorHotels' other businesses, including Potel & Chabot, Noctis and John Paul.
AccorHotels and SNCF also stated that they will work together to preserve and promote the train's history and heritage through the Orient Express Endowment Fund.
"We are delighted with this strategic partnership, which today cements the alliance of two major French players in the world of travel for a shared purpose, that of giving fresh impetus and international standing to a historic and world-renowned brand," said AccorHotels chairman, Sebastien Bazin, in a statement.
"Thanks to this partnership, our customers will be able to enjoy a prestigious range of services and exceptional experiences based on a portfolio of luxury brands."
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"Through our heritage policy, we will be actively involved in promoting this legendary train to the widest audience," SNCF Group deputy chief executive, Mathias Vicherat, said in a statement. "The interest shown today by AccorHotels bears witness to the relevance of the project which has been supported since 2008 by our Chairman Guillaume Pepy."
Wednesday's move comes just two days after AccorHotels extended its business travel reach with an agreement to acquire search and reservation solutions provider Gekko in a transaction valued at $117 million.
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