HX (Hurtigruten Expeditions) has been acquired by a consortium of investors to facilitate its separation from sister company Hurtigruten.
The acquisition includes €140m in new funding to support growth opportunities, including investments in industry-leading ships and new destinations. The transaction is expected to close in January 2025.
HX will retain Chief Executive Officer Gebhard Rainer, previously with luxury travel brands Sandals, as CEO, and Hyatt, as CFO, and operate from their new headquarters in London.
James McArthur, Chief Financial Officer at HX, shared, “Today marks a monumental day for HX. I would like to thank our incredible workforce, strategic partners and new owners that have been pivotal in getting us to this point. HX has an exciting future ahead, and I look forward to seeing what this fantastic business can achieve over the next few years.”
Over the past half-decade, the expedition cruise market has experienced substantial growth, surpassing the overall demand in the traditional cruise sector. This growth is expected to continue, driven by an increasing interest from consumers in unique travel experiences which have a focus on science, adventure, and sustainability.
The acquisition does not have any practical implications for HX customer offering, business partners or daily operations.
The Consortium is committed to supporting the Company in its mission to provide guests with new and exciting travel experiences. Under this new ownership, the Company will also continue to foster a positive working environment that supports the professional development of colleagues across the business.
Torben Geisler, who led the Arini investment, shared, “Today’s announcement is the start of an exciting new growth phase for HX, a company with a long history and a proven track record of innovation in the expedition cruise market. We believe HX is poised to continue to build market share, and the group of investors is committed to providing the backing needed to accelerate its success.”
