French hotel group Accor is in talks with investment vehicle Dubai Holding to fund the roughly €800mn development of two upmarket cruise liners under the Orient Express brand, in the latest example of Middle Eastern investor interest in the luxury travel sector, according to multiple people familiar with discussions.
Since announcing plans to launch two Orient Express-branded superyachts early last year, Accor has been seeking a partner to bankroll the majority of the capital expenditure associated with the cruise liners, in line with its “asset-light” strategy, three people said. Accor is also launching luxury hotels and trains under the Orient Express brand.
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