The launch of two more ships and expansion into new markets in Australia and the Caribbean are some of the things Virgin Voyages will be doing.
New external financing and additional capital from existing investors were included in the funding. Virgin Voyages has continued to receive support from its existing lender.
Virgin Voyages will be able to execute its growth strategy thanks to the new funding. July was the company's highest booking month.
Tom McAlpin, CEO of Virgin said, "We have created an incredible product that both our investors and consumers really 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 set out to
Virgin Voyages has two ships that are currently sailing in the Mediterranean and the Caribbean.
The brand was recently named one of the top ocean cruise lines in Travel +Leisure's World's Best Awards.
Ryan Cotton, a managing director at Bain Capital, said thatVirgin Voyages has successfully launched a new brand in the cruise industry and proven its appeal to both the traditional and non-traditional cruiser. 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. We are excited to invest in Virgin Voyages on behalf of our investors as we see a positive outlook for the company.
This year is set to see a strong return across the industry as cruising sails back toward pre-pandemic levels, and Virgin Voyages has seen a huge increase in bookings in the last six months.
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