Virgin Cruises Readies to Enter Cruise Market

Richard Branson, Virgin Group Founder A new cruise market entrant Virgin Cruises announced Thursday formation of its cruise liner business with the official launch date yet undetermined. The company will be based in the Miami area and plans to design and construct two modern cruise ships, Virgin said. According to Richard Branson, Virgin Group Founder, the new cruise liner will  shake up the cruise industry and deliver a holiday that customers will absolutely love.”  “They’ll be sailing on the latest ships offering a great quality, a real sense of fun and many exciting activities all delivered with the famed Virgin service,” he added. Tom McAlpin joins the Virgin Cruise management team as CEO, fresh from his position as President and CEO of The World, Residences at Sea. “Cruise guests deserve something better and different to what is being offered today, and Virgin Cruises is committed to creating breathtaking experiences for them and a new generation of guests,” he said. To work on this new venture, Virgin has teamed up with private investment firm Bain Capital.  “With a small number of global players, an experience in need of refreshing, and consumers ready for something new and exciting, the industry exhibits all the characteristics of one that is ripe for a new entrant,”Ryan Cotton, a principal with Bain Capital added. Press Release; Image: Virgin