The Yacht Portfolio to Acquire Sea Cloud Cruises

The Yacht Portfolio Signs Letter of Intent

The Yacht Portfolio, a strategic maritime investment company, has announced that it has entered into a letter of intent to acquire Sea Cloud Cruises of Hamburg, Germany. The company operates a fleet of three masted, full-rigged luxury tall ships; the Sea Cloud (109.5 meters; 64 passengers), the Sea Cloud II (117 meters; 94 passengers) and the recent newbuild Sea Cloud Spirit (138 meters; 136 passengers).

“Sea Cloud offers such a unique, environmentally-friendly experience in the cruise space, which aligns well with our continued focus on building a strong portfolio of niche 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 expand its relationship with Marriott International beyond The Ritz-Carlton Yacht Collection and gives Marriott International the opportunity to enter the cruise industry through its other luxury brands. “We are excited about the transaction between The Yacht Portfolio and Sea Cloud and look forward to the opportunity to collaborate further with The Yacht Portfolio to bring our luxury accommodations to sea,” said Timothy Grisius, Global M&A and Real Estate Officer at Marriott International.

For over 40 years, Sea Cloud Cruises has pursued the principle of sustainable tourism, using wind power to provide unique, luxury sailing experiences around the world. The majority of each trip is conducted under the sails, engines off, offering the cleanest way to travel at sea. The tall ships of Sea Cloud offer a relaxed atmosphere, attentive service and loyal customer following.

“We are pleased that The Yacht Portfolio will strengthen Sea Cloud’s market position,” said Hermann Ebel, Managing Director of Sea Cloud Cruises. “The course is set for many more years of successful international marketing and the foundation is laid for further company and fleet growth.”

Expansion of international marketing and laying the foundation for further company growth: Sea Cloud Cruises confirms successful conclusion of a letter of intent (LOI) by The Yacht Portfolio

For several months Sea Cloud Cruises has been in contact with The Yacht Portfolio, a strategic maritime investment company.

The negotiations have shown that both sides are ideal partners for strengthening their respective market positions. Sea Cloud Cruises is known as an exclusive operator of environmentally friendly sailing cruises in the 5-star segment, especially in Europe and the United States, for over 40 years. Through The Yacht Portfolio, the course is set for many more years of successful international marketing for Sea Cloud Cruises and the foundation is laid for further growth. 

With the planned acquisition, The Yacht Portfolio is also sending a clear signal for continuity. In addition to the continuation of the successful business model, the headquarters of Sea Cloud Cruises will remain based in Hamburg/Germany and the highly experienced and motivated team of employees will continue to be employed as part of this transaction. This ensures that the employees’ personal relationships with all customers and business partners will also be maintained. The existing voyage planning and charter commitments are intended to be continued.

The successful concept of Sea Cloud Cruises was the decisive factor for The Yacht Portfolio to contact Sea Cloud Cruises in order to pursue a desired growth strategy in this exclusive market segment. Sea Cloud Cruises would be The Yacht Portfolio’s second brand extension, after The Ritz-Carlton Yacht Collection. Both sides intend to implement the LOI, which has now been concluded, swiftly.

About The Yacht Portfolio

The Yacht Portfolio focuses on strategic investments in maritime portfolio companies and offers an unrivaled collection of exceptional luxury cruise experiences. The first brand extension to launch under the portfolio, The Ritz-Carlton Yacht Collection, was created exclusively by The Ritz-Carlton and maritime expert Douglas Prothero, in collaboration with funds managed by Oaktree Capital Management. For more information, visit www.theyachtportfolio.com

About Sea Cloud Cruises

Since 1979 Sea Cloud Cruises has been one of the world’s top names in cruises. The 90-year-old four-masted barque Sea Cloud, her younger sister the Sea Cloud II and now the new Sea Cloud Spirit combine the experience of traditional seamanship with the ambience and luxurious charm of classically elegant private yachts. Sea Cloud and Sea Cloud II are regularly voted among the top five cruise ships in the world by the Berlitz Cruise Guide. For more information, visit www.seacloud.com

Feature Photo by Claudio Poggio on Unsplash