Virgin to launch cruise operation?

BransonSky News has reported that the money would be used to buy ships in a bid to rival some of the cruise industry’s biggest names including Carnival and Royal Caribbean.

The virgin Group has already appointed the US-based corporate advisory firm Allen & Co to oversea the development of the venture which is expected to be named Virgin Cruises.

While the project is still in its early days the company has already had detailed talks with the banks about raising the cash to buy the first vessels.

A further $700 of equity would be raised by selling stakes in Virgin Cruises to outside investors.

Virgin boss Sir Richard Branson is believed to have been eyeing the cruise market for some time.

The headquarters for Virgin Cruises would be based in the US to take advantage of the country’s thriving cruise market.

Sky News added Virgin has also been in discussion with Allen & Co regarding setting up a new chain o four-star city-centre hotels.

The first will open in Chicago this autumn with others to follow in US cities served by the Virgin flights.

Sourced by TTG Digital

Advertisements


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s