Travel Market Insights
LVMH Has Option for Full Control of Orient Express After Buying 50% Stake: Exclusive

LVMH secured an option to acquire full ownership of Orient Express by 2027 as part of a strategic partnership announced last year, according to two people familiar with the deal. That agreement saw LVMH take a 50% stake in Accor’s Orient Express brand, sources said.
LVMH also acquired a stake in a planned Orient Express sailing yacht venture, which Accor is developing with an entity that owns the two ships, the sources told Skift.
When the partnership was announced, LVMH and Accor did not reveal financial details. Accor and LMVH declined to comment.
A photo-illustration of what one of Accor’s Orient Express Trains May Look Like. Source: Accor
Two Companies, One Brand
The partnership highlights the complicated marketplace for Orient Express-branded travel products.
As part of the LVMH partnership, Accor debuted its La Dolce Vita Orient Express train service through Italy in April. It aims to begin Orient Express service between Paris and Istanbul in 2026.
Earlier this year, Accor opened Orient-Express La Minerva in Rome, its first hotel under the brand name. A sec
Travel Market Insights
Delta Says It Will Not Use AI to Target Customers

Key Points
- Delta Air Lines clarified it does not use AI to set individualized airfares based on personal data, following criticism from lawmakers.
- The airline uses AI, via a partnership with Fetcherr, to assist in dynamic pricing for a growing portion of its domestic flights, but claims all fares are determined by market dynamics and are publicly available.
- Lawmakers and officials have expressed concerns about potential predatory or ‘surveillance’ pricing, prompting Delta to stress its commitment to fair, competitive pricing and data privacy.
Summary
Delta Air Lines has publicly stated that it does not use AI to set individualized prices based on personal customer data, responding to recent criticism and inquiries from U.S. lawmakers. The airline acknowledged using AI technology, through a partnership with Fetcherr, to assist analysts in setting fares for a portion of its domestic flights, with plans to expand this use. However, Delta emphasized that fares are determined by market competition, not personal data, and all prices are transparently published, aiming to dispel concerns about privacy and potential predatory pricing.
Travel Market Insights
U.S. Dollar Slide Hurts Accor, Minor, and Meliá

Some of the world’s largest hotel companies saw their earnings dented by currency swings in the first half of 2025, as euro and baht-reporting groups absorbed losses while U.S.-based chains appeared largely insulated from the volatility.
Accor, Meliá Hotels, and Minor International all reported currency-related losses that offset solid operational performance. Meanwhile, U.S.-based Hilton and Wyndham, which report in dollars, did not mention foreign exchange impacts in their earnings calls and appeared shielded from the same pressures.
The U.S. dollar index dropped 10.8% in the first half of 2025 following the Trump administration’s April tariffs and public clashes with the Federal Reserve. The resulting investor pullback caused the dollar to weaken sharply against the euro, baht, and other currencies.
Accor: Currency Among Its Biggest Headwinds
Paris-based Accor repo
Travel Market Insights
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