Arsenale’s mega-bond to finance hotels and rail cruises
The company is opening a new hotel in Spain and is set to make an acquisition in Asia
Luxury hotels and rail travel: Arsenale, a subsidiary of the Barletta Group, is focusing on growth. Arsenale is one of the world’s leading operators in luxury rail cruises (the La Dolce Vita Orient Express) and high-end hospitality (hotels and resorts). The company has successfully completed the placement of a €300 million bond issue on the Vienna Stock Exchange. The bond has a four-year maturity and carries a floating-rate coupon equal to the three-month Euribor plus a spread of 7.00 per cent. The transaction was settled on 30 June (advisers: Pareto Securities and the law firm Hogan Lovells Cadwalader).
The proceeds from the issue will be used to support the implementation of the Arsenale Group’s 2026–2031 business plan, alongside the new capital injection from shareholders. Arsenale’s stock market listing could also be included in the business plan: this is an idea that the company’s senior management is considering over the five-year period of the plan, but no decision has yet been taken.
Paolo Barletta, CEO of Arsenale, says: “The success of the bond confirms the market’s strong interest in the luxury hospitality sector and in fully developed and structured platforms such as ours. The bond, listed on the Vienna Stock Exchange, was subscribed to by dozens of investors from a wide range of geographical areas: Northern Europe, America and Asia. The 300 million is earmarked to support Arsenale’s future investments both in the hotel sector, where further openings are planned, and in luxury trains.”
In the hospitality sector, one of the upcoming developments is the opening of a new luxury hotel in Marbella (Spain). Furthermore, Arsenale’s development plan includes new strategic projects in Rome, Cortina, Tuscany and Southern Italia.
In the rail tourism sector, following Arsenale’s completion in September 2025 of the acquisition of 100 per cent of Golden Eagle Luxury Trains – a historic British company regarded as an international benchmark in the sector – a new acquisition in the rail cruise sector is currently being finalised, this time in Asia.
