The Ritz-Carlton Yacht Collection plans to build between eight and ten ships for various Marriott International brands and expects to go public in the next three or four years.
“We already have plans underway for vessels four and five, which will be built on a different platform, which will be made public, and beyond that we are looking into entering the expedition space and other types of yachts, to get our fleet to eight or 10 yachts in the coming years,” Murren said.
Although there is ample potential to further develop the Ritz-Carlton brand beyond the three ships, Murren stated that his company and Marriott are “very open” to diversifying their activities and that “we believe this will be a multi-brand company.”.
Ilma and Luminara, fully funded, will be delivered in July 2024 and autumn 2025, respectively. Murren confirmed that The Ritz-Carlton Yacht Collection is seeking to raise between $200 million and $400 million to finance its fourth and fifth superyachts, each with no more than 450 berths. “We want to have a strong and growing balance sheet, and we believe that after the fourth and fifth ships, we will be able to self-finance our fleet in the future with the cash flow generated by the existing yachts,” he added.
The beginnings of Ritz-Carlton Yacht Collection were not easy: a shipyard bankruptcy, delivery delays, design problems and a pandemic, but the brand has already achieved a 15% repeat factor in the first year and has a database of 470,000 names, which Murren considers “extraordinary”
With a fleet of three ships, Ritz-Carlton will stick to the Mediterranean-Caribbean deployment and continually adjust itineraries to ensure the most attractive marinas and shore experiences, but with the fourth or fifth ship, Asia-Pacific will likely be added.
For the construction of its vessels, the company has so far focused on Chantiers de l'Atlantique, which possesses the innovative mindset necessary to develop and offer new designs. However, a decision has not yet been made as to whether the next generation of yachts will be powered by LNG, like Ilma and Luminara, or whether it will employ methanol, sails, or other propulsion technologies.
Murren's vision is "to be the most expert and highest-performing organization in the luxury yacht cruise market, while also being environmentally friendly.".
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