The Yacht Portfolio, a strategic maritime investment firm, has signed a letter of intent to acquire Sea Cloud Cruises of Hamburg, Germany. The company operates a fleet of three luxury yachts: the Sea Cloud, the Sea Cloud II, and the Sea Cloud Spirit.
“Sea Cloud offers a unique and environmentally conscious experience in the cruise space, which aligns well with our focus on building a strong portfolio of luxury brands,” said Douglas Prothero, CEO of The Yacht Portfolio. “We look forward to completing a transaction with the Sea Cloud team and supporting the brand’s next phase of growth in the luxury cruise space.”.
The acquisition not only expands The Yacht Portfolio's presence in the luxury cruise sector, but also creates an opportunity to extend its relationship with Marriott International beyond The Ritz-Carlton Yacht Collection, and gives Marriott International the opportunity to enter the cruise sector through its other luxury brands.
“We are excited about the transaction and look forward to the opportunity to continue collaborating to bring our luxury accommodations to the seaside,” said Timothy Grisius, global head of mergers and acquisitions and real estate at Marriott International.
For over 40 years, Sea Cloud Cruises has championed the principle of sustainable tourism. Most of each voyage is sailed, with the engines off, offering the cleanest way to travel the seas. Sea Cloud's sailboats provide a relaxed atmosphere, attentive service, and a loyal clientele.
“We are delighted that The Yacht Portfolio strengthens Sea Cloud’s position in the market,” said Hermann Ebel, Managing Director of Sea Cloud Cruises. “It lays the foundation for further growth for the company and the fleet.”.
The negotiations have demonstrated that both parties are ideal partners for strengthening their respective market positions. Sea Cloud Cruises has been known as the exclusive operator of environmentally friendly sailing cruises in the 5-star segment for over 40 years. Through The Yacht Portfolio, the course is set for many more years of success in the international marketing of Sea Cloud Cruises, and the foundation is laid for further growth.
Sea Cloud Cruises' headquarters will remain in Hamburg, Germany, and the team of employees will continue to be employed as part of this transaction. The company also intends to continue with existing voyage planning and charter commitments.
