Certares Holdings invests in Mystic

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Written by Teijo Niemelä Teijo Niemelä

Category: Top Headlines Top Headlines

Published: 03 June 2019 03 June 2019

Mystic Invest Holding has closed on an investment from Certares Holdings, an investment platform managed by Certares Management LLC, a global travel, tourism and hospitality investment firm. Certares joins the Ferreira family as shareholders of Mystic, a Portuguese-holding company and leader in the cruising industry with more than 25 years’ experience. Certares is committed to supporting Mystic’s long-term growth initiatives and innovation in the river and expedition cruising segments. The Ferreira family maintains majority share and operational control of Mystic.

Simultaneous with the transaction, DouroAzul, Nicko Cruises, Mystic Cruises and Mystic Cruises USA were contributed to the company, with the Ferreira family and Certares as shareholders. The Ferreira family has retained full ownership of its existing non-cruise businesses. DouroAzul is the leading river cruise company in Portugal and an award-winning cruise operator, having been considered the best River Cruise Company in Europe on five occasions. With more than 20 years of experience, DouroAzul also provides sightseeing cruises on the Douro River. Based in Germany, Nicko Cruises offers river cruise programs across 12 rivers in three different continents. From the unspoiled landscapes of the Douro, crossing European art centers on the Rhine and the Danube, to the exotic shores of the Yangtze and the Mekong, Nicko provides the perfect settings for dream cruises. Mystic Invest also operates Mystic Cruises USA, a U.S. distributor of its ocean cruises, which offers expedition-style adventures in eco-friendly ways and brings guests to Antarctica, the Arctic, and other high-adventure destinations.

Mário Ferreira, shareholder and CEO of Mystic, said “Our partnership with Certares comes at a wonderful period of opportunity and growth for Mystic. We look forward to continuing our growth in the river cruising market and expanding our capabilities with the launch of our expedition fleet. We are proud of the company we have built and welcome Certares as shareholders in our family business. By partnering with Certares, we will be able to leverage its expertise in the global travel industry to continue to innovate and provide the very best experience for our guests.”

Colin Farmer, Senior Managing Director and Head of the Management Committee of Certares Management LLC, said “We are extremely excited to be partnering with the Ferreira family as shareholders of Mystic. Mário, Paula and the Mystic team have built a wonderful business, with durable and growing leadership positions on the Douro River, in the German market with Nicko Cruises, and as an emerging expedition cruise operator globally. We look forward to supporting the Company as it enters the expedition cruising space, which is an exciting next chapter in the Company’s development. We are partnering with an exceptional team in a growing and innovative business.”

Ritz-Carlton orders second of planned three cruise yachts

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 31 May 2019 31 May 2019

The Ritz-Carlton Yacht Collection, which is part of the UJS based hotels group Marriott Inc, has ordered a second high end of the market cruise yacht from the Barreras shipyard in Spain, the shipbuilder said.

The 24,000 gross ton vessel will have a length of 190 metres and it will be able to accommodate 298 passengers. The first unit of the class, to be named Azora, is due for deliver in November this year.

Ritz-Carlton and Barreras have a letter of intent that covers the construction of three ships of this type.