United Kingdom
United States
Asia Pacific
Virgin Voyages secures $550 million in new funding
Virgin Voyages has secured a half-billion-dollar cash injection to accelerate its growth plans.
It has closed on a $550 million capital raise led by funds managed by Ares Management.
It includes additional capital from existing investors including Virgin Group and Bain Capital.
The new funding will help Virgin Voyages strengthen its financial position while supporting expansion.
It comes as the launch of Virgin Voyages’ fourth ship Brilliant Landy has hit a roadblock.
The ship launch is delayed due to construction and supply chain issues.
Tom McAlpin is retiring as CEO and transitioning to the role of Chairman of the Board of Directors.
Nirmal Saverimuttu, the current President and Chief Experience Officer, will become new CEO.
Virgin Voyages officially launched in August 2021 and currently has three ships in service.
“With this new investment, we believe the company is on strong, footing” said Ares Private Equity Group’s Aaron Rosen.
Learn more about : ( )
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Gatwick braces for strike