Owners of Ritz-Carlton Yacht Collection to acquire Sea Cloud

The Yacht Portfolio, which is the maritime investment firm behind the soon-to-launch Ritz-Carlton Yacht Collection, has signed a letter of intent to acquire Sea Cloud Cruises.

Hamburg-based Sea Cloud has three, three-masted tall ships: the 64-passenger Sea Cloud, launched in 1931; the 94-passenger Sea Cloud II (2001); and the new (in 2021) 136-passenger Sea Cloud Spirit.

"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, in statement. "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."

Possible cruise expansion

Through the transaction, The Yacht Portfolio plans to expand its relationship with Marriott International beyond the Ritz-Carlton Yacht Collection, officials said, noting in a press release that the deal "gives Marriott International the opportunity to enter the cruise industry through its other luxury brands."

The value of the transaction and the closing date were not disclosed.

The Ritz-Carlton Yacht Collection’s first of three 298-guest luxury yachts, Evrima, is slated to enter service in May 2022 after a series of delays.

Sea Cloud headquarters, meanwhile, will stay is Hamburg and existing itineraries will remain unchanged.

“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.”

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