The cruise sector is bouncing back from the effects of the Pandemic after Virgin Voyages raised $550 million in new capital.
The two ships that the cruise line currently operates are Scarlet Lady, which is sailing between the US and the Caribbean, and Valiant Lady, which is sailing in the Mediterranean.
The operator has seen rapid growth in sales over the last six months and July was its record booking month.
Expansion into new markets in Australia and the Caribbean is going to be supported by the new funds.
There is a single supplement for sailings booked in August.
The launch of Resilient Lady is being delayed.
The fourth vessel's name was unveiled.
The ship is called the Scarlet Lady.
The funding was led by funds and accounts managed by investment management firms.
The cruise line is supported by its existing lenders.
According to the statement, the new funding will allow Virgin Voyages to continue the execution of its growth strategy and further strengthen its financial position.
Tom McAlpin said, "We have created an incredible product that both our investors and consumers truly believe in, and this additional capital comes at a time when we're looking forward to exponential growth that will, in turn, help us achieve what we want."
Ryan Cotton, a managing director at Bain Capital said, "Virgin Voyages has successfully launched a new brand in the cruise industry and proven its appeal to both the traditional and non-traditional cruiser, allowing the brand to tap into new markets and re-Imagine this travel category."
The investor group supporting Virgin Voyages is testament to the attractive fundamentals of the brand and what makes it special.
The cruise sector has faced unprecedented challenges in the past few years, but is showing a strong rebound.
As we see a positive outlook and impressive growth on the horizon for the company, we are excited to invest in Virgin Voyages.
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