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AccorHotels to invest in Orient Express
AccorHotels is to acquire a 50% stake in the share capital of Orient Express.
The luxury train, which is currently fully-owned by SNCF, will be used as a basis for a new collection of prestigious hotels under the Orient Express banner.
The seven historic cars of the train will remain the physical property of SNCF, a state-owned rail group, and will be operated by Orient Express for private journeys and events.
AccorHotels chairman and CEO Sebastien Bazin said: "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 an historic and world-renowned brand.
"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."
AccorHotels and SNCF Group will also jointly preserve, promote and share the heritage connected with the legendary train through the Orient Express Endowment Fund, a body whose aim is to encourage and support awareness-building initiatives to bring arts and culture to a wide audience.
The first Orient Express rail journey between Paris and Constantinople took place 134 years ago on October 4 1883.
Mathias Vicherat, deputy CEO in charge of the Corporate Project, Communication and Image for SNCF Group said: "SNCF Group is proud to have contributed to the renaissance of this historic brand and we intend to continue our involvement and provide our expertise, acquired over the past 80 years in the field of rail engineering, to help develop this project.
"Through our heritage policy, we will be actively involved in promoting this legendary train to the widest audience."
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Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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