Three bidders rumoured for Hurtigruten

Beefed-up ferry and cruise firm up for grabs?
Hurtigruten is up for sale again, according to sources close to Cruise Industry News. London-based private equity firm TDR bought the Norwegian ferry and cruise firm in 2014 but is now talking to three potential buyers after receiving unsolicited offers.
As part of a business overhaul, TDR has provided the capital to buy and refurbish one ship, Spitsbergen, refurbished four existing ships and ordered two newbuilds with an option for two more.
Hurtigruten was already profitable when it was acquired but has since become even more profitable by operating in a way that better manages capacity and onboard spending and by being more responsive to what customers want, according to TDR.
“We are believers in the adventure travel trend whereby people look for more unique experiences and more cultural content as well as being active in their free time. We think that is a growing space,” Jon Rosen, a partner in TDR Capital, told Cruise Industry News earlier this summer.
“There are huge markets that basically do not know anything about Hurtigruten. The brand is under-recognised in the United States and Asia. It is a brand and a heritage that ought to be much wider known. It is about once-in-a-lifetime experiences.”
He added: “For the explorer cruises, we are also thinking about broadening the places we go to – not just polar waters, but contemplating other places like the Amazon River and adventure-like places that are not polar based. People are willing to pay if you provide a quality experience and access to places. They value that.”
Cruise Industry News


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