The hotel company has signed a strategic partnership with French train operator SNCF which includes taking a 50% stake in Orient Express. SNCF previously owned all of Orient Express.

Accor said that the deal would allow it to “strengthen its leadership in the luxury segment” with the Orient Express collection of hotels aiming to become “the very epitome of the art of travel”.

Sebastien Bazin, chairman and chief executive of AccorHotels: “We are delighted with this strategic partnership, which 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.”

Accor and SNCF will work together to further develop the Orient Express brand around the world following the deal.

Guillaume de Saint Lager, corporate secretary of Orient Express, added: “This ambitious project, which is unique, cannot come to fruition without the complementary skills of our two shareholders.

“We are proud and particularly look forward to being involved in writing this new chapter with such strong backing.”

Over the last 40 years, SNCF has been involved in the restoration of Orient Express’ historic 1920s vintage train carriages, which now operate under the Pullman-Orient-Express brand.