Ritz-Carlton Yacht Collection owners acquire more ships: Will other Marriott brands get into cruising?
Ashley Kosciolek has spent more than a decade writing about travel, with particular emphasis on cruises. Her favorite cities include London; Amsterdam; Krakow, Poland; Phnom Penh, Cambodia; Dawson City, Yukon; and anywhere known for outstanding pizza and theater. You can follow her daily exploits, both at sea and on land, on Instagram or Twitter @slyjabroni.
Feb. 01, 2022
•
3 min read
Ritz-Carlton Yacht Collection owners acquire more ships: Will other Marriott brands get into cruising?
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The owners of the Ritz-Carlton Yacht Collection have plans to acquire another cruise line and are hinting that the opportunity might allow other Marriott brands to get into the cruise industry.
Maritime investment company The Yacht Portfolio on Feb. 1 signed a letter of intent to acquire German cruise line Sea Cloud Cruises, which operates three vessels, all of which are masted sailing ships.
"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 a 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."
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Sea Cloud has been in business since 1979, and it caters heavily to a German-speaking market. Its vessels range in age from less than one year old -- new ship Sea Cloud Spirit began sailing for the line in 2021 -- to 90 years. The latter ship, Sea Cloud, was the original private yacht of Marjorie Merriweather Post, the cereal heiress who, at one time, was one of the richest women in the world.
The Yacht Portfolio indicated that other Marriott brands could be following in Ritz-Carlton's footsteps by bringing their names to the cruise market using the Sea Cloud vessels.
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"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," the statement said.
The Yacht Portfolio said it does not yet have any information to share with regard to which brands it's considering for the crossover.
What's interesting about the timing of the transaction is that the Ritz-Carlton Yacht Collection hasn't even sailed its first vessel yet. In Aug. 2021, the line pushed back the launch of its first ship, Evrima, for a fifth time. It was initially scheduled to debut in early 2020, but the timeline has repeatedly been affected by shipyard issues and COVID-19-related delays.
Evrima's first voyage is now scheduled for May 6, 2022.
Featured image by The 136-passenger Sea Cloud Spirit. (Photo courtesy of Sea Cloud Cruises)
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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Sometimes it's worth a large investment to reap the benefits of a great credit card. That's exactly the case with the Amex Platinum card. In exchange for the annual fee, you'll unlock access to the Amex Membership Rewards program that let you access airline and hotel transfer partners, along with new lifestyle and travel credits. This card is also incredibly rewarding for travel purchases, helping you rack up a ton of Membership Rewards points for your next award trip.Pros
- The current welcome offer on this card is quite lucrative. TPG values it at $1,600.
- This card comes with a long list of benefits, including access to Centurion Lounges, complimentary elite status with Hilton and Marriott, at least $500 in assorted annual statement credits and so much more. (Enrollment required for select benefits.)
- The Amex Platinum comes with access to a premium concierge service that can help you with everything from booking hard-to-get reservations to finding destination guides to help you plan out your next getaway.
Cons
- The high annual fee is only worth it if you’re taking full advantage of the card’s benefits. Seldom travelers may not get enough value to warrant the cost.
- Outside of the current welcome bonus, you’re only earning higher rewards on specific airfare and hotel purchases, so it’s not a great card for other spending categories.
- The annual airline fee statement credit can be complicated to take advantage of compared to the broader travel credits offered by competing premium cards.
- Earn 80,000 Membership Rewards® points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
- Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
- Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card®.
- $240 Digital Entertainment Credit: Get up to $20 back each month on eligible purchases made with your Platinum Card® on one or more of the following: Audible, Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, SiriusXM, and The New York Times. Enrollment required.
- $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax. Plus Ups are excluded.
- American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. There are even more places your Platinum Card® can get you complimentary entry and exclusive perks.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline.
- $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
- Get up to $300 back per calendar year on the Equinox+ digital fitness app, or eligible Equinox club memberships when you pay with your Platinum Card. Enrollment required. Learn more.
- Breeze through security with CLEAR® lanes available at 100+ airports, stadiums, and entertainment venues and get up to $189 back per calendar year on your membership when you use your Card. Learn more.
- $695 annual fee.
- Terms Apply.
- See Rates & Fees