Arsenale, the Company Behind La Dolce Vita Orient Express, Acquires Golden Eagle Luxury Trains
The Italian rail operator expands its global footprint with acquisition of U.K.-based Golden Eagle, boosting its share of the luxury rail market to 42 percent.
Photo: Courtesy of Accor
Arsenale, the Italian group that launched La Dolce Vita Orient Express earlier this year, has acquired Golden Eagle Luxury Trains, the Manchester-based operator known for long-haul routes across Eastern Europe and Central Asia. The agreement, announced by CEO Paolo Barletta at the World Travel & Tourism Council summit in Rome, marks a major step in Arsenale’s bid to become a global leader in luxury rail.
Golden Eagle, founded by Tim Littler more than three decades ago, built its reputation with journeys such as Paris–Istanbul, Budapest–Cappadocia, and extended expeditions through Central Asia. Littler and his team will remain involved, ensuring continuity as Golden Eagle joins Arsenale’s portfolio. Barletta said the deal will enable the companies to create new itineraries while reducing costs by approximately 15 percent. Arsenale plans to invest 15 million euros over the next five years to modernize Golden Eagle’s rolling stock using its Italian manufacturing base.
The acquisition builds on Arsenale’s rapid expansion. After the debut of La Dolce Vita Orient Express—the first luxury train designed and built entirely in Italy—the group set its sights abroad, with projects underway in Saudi Arabia, Egypt, the UAE, and Uzbekistan. In Saudi Arabia, the forthcoming Dream of the Desert will debut as the country’s first five-star rail product, with carriages built in Brindisi and interiors crafted by Bergamo-based Standgreen. The addition of Golden Eagle provides an experienced partner as Arsenale scales this international pipeline, with operations coordinated between Dubai and Manchester.
Financial terms were not disclosed, but Barletta said Golden Eagle was valued at roughly 20 times EBITDA, with 30 percent paid in cash and the remainder through share exchange. The structure allows Golden Eagle stakeholders to retain a minority position in Arsenale alongside the Barletta, Bulgari, and Rovati families. Once the deal closes, Arsenale’s share of the global luxury rail market will rise to an estimated 42 percent.
By combining Golden Eagle’s heritage routes with its own new-build projects, Arsenale is shaping one of the first luxury rail networks with true global reach and extending its ambitions far beyond Italy.
