Operator remains part of Crestview Partners but will operate as an independent business.
Journey Beyond has tonight confirmed it will “return to being a freestanding company” after the cessation of trade by sister company American Queen Voyages.
Both businesses were part of US-based Hornblower Group, under the ownership of private equity firm Crestview Partners, which acquired Journey Beyond about two years ago.
Journey Beyond CEO Chris Tallent, who had previously been announced as the head of Hornblower’s “overnight division” which incorporated both Journey Beyond and American Queen Voyages, said the Australian business “intends to formally separate from the Hornblower Group, and whilst it remains subject to a number of consents and approvals, we look forward to our planned continued ownership by Crestview, as one of their portfolio companies”.
Tallent noted the announcement would have no impact on Journey Beyond’s operations which continue to enjoy record demand and strong trading across its range of experiences. He noted that Journey Beyond has a separate capital structure in Australia and its own sources of funding.
Journey Beyond has also committed to contacting any Australian-based guests or travel agents impacted by the shutdown of American Queen Voyages, to assist them with their plans.
More details in tomorrow’s issues of Travel Daily and Cruise Weekly.