Arsenale, the Italian leader in luxury hospitality and rail travel, recently announced the acquisition of a 33 per cent strategic stake in SJourney, Vietnam’s pioneering luxury rail brand, creating immersive journeys across the country.
The transaction marks a further step in Arsenale’s international growth strategy, establishing a direct presence in Vietnam and reinforcing the Group’s expanding footprint across Asia. It follows Arsenale’s acquisition of Golden Eagle Luxury Trains in 2025 and forms part of the Group’s strategy to build an integrated international platform dedicated to luxury rail travel across some of the world’s most distinctive destinations.
Through the investment, Arsenale will combine its expertise in developing, industrialising and positioning luxury rail projects internationally with SJourney’s established presence, operational capabilities and deep knowledge of Vietnam. Together, the two companies aim to support SJourney’s international growth while preserving the Vietnamese identity, sense of place and immersive approach to travel that make the brand distinctive.
As a strategic minority shareholder, Arsenale will actively support SJourney’s next phase of growth through its international commercial network and distribution channels, helping strengthen the brand’s global reach and visibility. Arsenale will also contribute strategic and industry expertise to the development of new routes and future expansion into additional markets, while supporting the continued evolution of onboard service standards and product
The partnership also includes the licensing of the Golden Eagle brand. As part of this strategy, SJourney will operate under the SJourney by Golden Eagle brand. SJourney will remain the distinctive identity and local expression of the experience, rooted in Vietnam’s culture, landscapes and destination expertise, while the Golden Eagle endorsement will support its international positioning and reach.
SJourney offers luxury rail journeys designed to reveal Vietnam through slow, immersive travel, connecting the country’s landscapes, cultural heritage and local communities. Its approach is built around a simple belief: the journey itself should be an integral part of the destination, allowing travellers to experience Vietnam at a slower and more considered pace.
Among SJourney’s signature journeys is the Hanoi–Ho Chi Minh City route, an iconic north-to-south journey through some of Vietnam’s most remarkable scenery and culturally significant destinations.
“Our investment in SJourney is another step in building Arsenale’s international luxury rail platform and strengthens our presence in Asia, a region that will play an increasingly important role in the future of experiential travel. Vietnam combines extraordinary cultural and natural heritage with a rapidly evolving tourism market, and SJourney has created an authentic way to experience the country by rail. Our companies share a similar story, born from a deep passion for rail travel and from the ambition to keep innovating the way people travel and explore. We see a significant opportunity to support SJourney’s next phase of growth while preserving the identity that makes it distinctive. Our ambition is not simply to expand geographically, but to build a global network of exceptional rail journeys rooted in the places they travel through,” said Paolo Barletta, CEO of Arsenale.
Thang Phan, Co-founder and Business Development Manager of SJourney, commented: “This partnership marks an important milestone in SJourney’s long-term ambition to grow as a distinctive international luxury travel brand while remaining deeply rooted in Vietnam. Arsenale brings international expertise, commercial reach and a shared understanding of the potential of luxury rail travel, giving us a stronger platform for our next phase of development. Together, we have the opportunity to expand SJourney’s reach while preserving the identity, sense of place and approach to travel that make the brand distinctive.”
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