08 Dec 2014
Richard Branson takes to the seas with Virgin Cruises
BY Jak Phillips
Richard Branson’s Virgin Group is planning to ‘shake up’ the cruise line sector with the high-profile launch of Virgin Cruises.
The group is partnering with global investment firm Bain Capital for the venture, which will see industry veteran Tom McAlpin – former CEO of The World, Residences at Sea and president of Disney Cruise Line – head up Virgin Cruises as CEO.
Details are scarce at present – both the investment figure behind the venture and launch date remain undisclosed – however Branson has revealed that the company plans to design and construct two new world class cruise ships.
"We plan to shake up the cruise industry and deliver a holiday that customers will absolutely love,” Branson said.
“They'll be sailing on the latest ships offering great quality, a real sense of fun, and many exciting activities all delivered with the famed Virgin service."
Bain has prior experience in the field through its investment in US-based travel firm Apple Leisure Group, while Virgin’s existing leisure portfolio is extensive. The group’s Virgin Active arm has more than 200 health clubs worldwide, boasting extensive gym facilities and some spa aspects, including wet and dry thermal facilities. Virgin Active’s huge commercial profile and modern consumer expectations for high quality fitness and spa facilities on luxury cruises mean a tie up with Virgin Cruises a distinct possibility.
Virgin Cruises will be headquartered in the Miami/Fort Lauderdale area, meaning packaged offerings featuring air travel with Virgin Atlantic also remain an option.
Evan Lovell, partner at Virgin Management added: "Virgin Cruises complements our extensive travel and leisure experience, which includes our award winning global airlines, passenger train service, and new hotel brand which will open its first property in Chicago next month. We are thrilled that Bain Capital is joining us on this journey."
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