The maritime investment firm behind the Ritz-Carlson Yacht Collection, The Yacht Portfolio, signed a letter of intent (LoI) to purchase Sea Cloud Cruises GmbH - a luxury sailing ship line/travel brand based in Hamburg (Germany).
The company operates a fleet of 3-masted, full-rigged luxury tall ships: 64-guest Sea Cloud, 94-guest Sea Cloud 2, and the newbuild 136-passenger Sea Cloud Spirit.
The acquisition expands the presence of The Yacht Portfolio in the luxury cruise sector and creates an opportunity to expand the relationship with Marriott International beyond The Ritz-Carlton Yacht Collection. Marriott International will now have the opportunity to enter the cruise industry via its other luxury brands.
For 40+ years, Sea Cloud Cruises has pursued the principles of sustainable tourism, using wind power to provide luxury sailing experiences around the globe. The majority of each voyage is conducted under the sails, engines off, providing the cleanest way to travel at sea. The company's tall ships offer a relaxed atmosphere and attentive service.
Hermann Ebel, Managing Director of Sea Cloud Cruises said they were pleased that The Yacht Portfolio would strengthen Sea Cloud’s market position.
“The course is set for many more years of successful international marketing and the foundation is laid for further company and fleet growth.”
Sea Cloud Cruises' headquarters will remain based in Hamburg (Germany). The existing cruise planning and charter commitments are said to be continued.