Dubai Holding will become the majority owner of the real estate company behind the yachts if the deal goes ahead, providing the company with the advantage of moving assets off its balance sheet.
French hotel group Accor is in talks with…Dubai Holding» To finance the development of two luxury cruise ships worth approximately 800 million euros ($867 million), under the “Orient Express” brand, in the latest example of Middle Eastern investors’ interest in the luxury travel sector, as reported. Financial Times newspaper Quoted from informed sources.
Since announcing plans to launch a group of luxury yachts bearing this brand, early last year, Accor has been searching for a partner to finance the majority of capital expenditures associated with cruise ships, in line with its “asset-light” strategy, according to sources.
The sources stated that talks were held with several parties, but the discussions with the group had reached a more advanced stage. Dubai Holding, whose assets are worth $35 billion, owns the luxury Jumeirah hotel chain, and last year reached an agreement with Accor to launch hotels in the emirate.
Two yachts will be built by French shipbuilder Chantiers de l’Atlantique and are expected to be launched in early 2026 and early 2027, respectively. The first ship, which is 220 meters long, contains 54 suites, and tickets cost up to 20,000 euros per trip.
The sources said that Dubai Holding will become the majority owner of the real estate company behind the yachts if the deal goes ahead, providing the company with the advantage of transferring assets from its balance sheet. Accor and Dubai Holding declined to comment.
